China’s Foreign Exchange Authority says it has sanctioned 10 mainland residents for their involvement in underground bank transactions or using illegally modified Point of Sale (PoS) terminals.
China has said it can blacklist any place specifically aimed at mainland residents as gambling customers, but did not mention jurisdiction under the name.
The administration in Friday’s announcement listed crimes allegedly involving 10 individuals related to “illegal foreign currency transactions for gambling” from 2016 to 2020. The announcement said seven of them were transactions through underground banks and the other three involved the use of illegally modified PoS terminals.
The bureau did not specify where the money was sent. But the government agency said it violated China’s rules on foreign exchange transactions and noted that all 10 people had been fined.
The heaviest fine was 1.56 million yuan ($245,592) for mainland residents who allegedly engaged in illegal transactions involving foreign currency worth $1.13 million on four occasions between November 2018 and June 2019.
Crimes and fines involving 10 people have been filed at the People’s Bank of China’s “Credit Reference Centre,” the bureau said. The Credit Reference Centre was set up to collect credit information of businesses and individuals in mainland China.
On April 23, the People’s Bank of China said in a statement that it met on the same day with several government ministries, including the Bureau of Foreign Exchange, about continuing a crackdown on departing capital suspected of supporting “cross-border gambling activities.”
It focuses on “improving customer know-how” and “monitoring and processing suspicious transactions” by leveraging financial skills.
BY: 슬롯사이트 추천
