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The SAFE and the Ministry of Public Security Jointly Hold a Working Conference to Crack Down on Illegal and Criminal Activities

Related to the Illegal Trading of Foreign Exchange

A working conference on cracking down illegal and criminal activities related to the illegal trading of foreign

exchange was held recently by the State Administration of Foreign Exchange (SAFE) and the Ministry of Public

Security (MPS). At the conference, the joint efforts by the SAFE and the MPS in 2013 to crack down on illegal and

criminal activities related to the illegal trading of foreign exchange were summarized and relevant work for 2014

was arranged. In addition, advanced groups and individuals in terms of combating illegal and criminal activities

related to the illegal trading of foreign exchange in 2013 were commended.

It was pointed out at the conference that the foreign exchange authorities and the public security organs at all levels

have tightened cooperation and have jointly carried out investigations according to the arrangements of the CPC

Central Committee and the State Council, uncovering in 2013 more than forty cases involving foreign exchange

related illegal and criminal activities including the illegal trading of foreign exchange in an amount over RMB50

billion and more than one hundred criminal suspects were captured on site. Great achievements were made and

foreign exchangerelated illegal and criminal activities of all kinds were successfully deterred.

It was emphasized at the conference that fluctuations in cross-border capital flows have been increasing since 2013.

Therefore, there is a heavy responsibility to prevent unusual foreign exchange capital flows. The foreign exchange

authorities and public security organs at all levels are required to strengthen study and judgments about the

situation, make innovations in terms of the means of investigation, and improve the relevance and effectiveness of

cracking down on foreign exchangerelated illegal and criminal activities. Efforts shall be made to increase

regional cooperation and to consolidate centralized governance in key regions in due time so as to build joint forces

for cracking down on foreign exchangerelated illegal and criminal activities. Meanwhile, upstream and

downstream crimes related to the illegal trading of foreign exchange shall be pursued based on available clues,

crime networks shall be thoroughly investigated, in particular criminal activities including money laundering and

activities transferring hidden illegal money. In addition to investigating the criminal responsibility of the operators

of underground money shops, administrative penalties shall be imposed on the participants in underground money

shop transactions to increase punishment for illegal and criminal activities, such as the illegal trading of foreign

exchange. In addition, investigations and research shall be strengthened in order early on to discover and to prevent

Index number:000014453-2014-00158 Dispatch date: 2014/07/07

Publish organization: State Administration of Foreign Exchange

Name: The SAFE and the Ministry of Public Security Jointly Hold a Working Conference to Crack Down on Illegal and Criminal Activities Related to the Illegal Trading of Foreign

Exchange

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new types of foreign exchangerelated illegal and criminal activities.

It was requested at the conference that the foreign exchange authorities and public security organs in 2014 should

continue to deepen their cooperation, upgrade the means of investigations, and continue to maintain high pressure

and to crack down on foreign exchangerelated illegal and criminal activities so as to safeguard the healthy

development of Chinas foreign-related economy and finance.

transpond print

Contact Us For Home Join Collect ion

State Administration of Foreign ExchangeAddess:Huarong Plaza, No.18 in Fucheng Road, Haidian District, Beijing

Postcod:100048 Informants'hot-line telephone:68402265

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