Legal analysis: Common types of money laundering are: 1. Cash smuggling. Many countries have not established a cash transaction reporting system, so smuggling criminal proceeds into such countries and then depositing them in banks is an important way to launder money.
2. Deposit large amounts of cash in banks and build deposits.
3. Utilize cash-intensive industries. More and more money launderers are using cash-intensive industries to launder money. They use casinos, entertainment venues, bars, and gold and silver jewelry stores as cover to declare criminal proceeds as legitimate business income through false transactions.
4. Directly purchase various movable or immovable properties. Directly purchase real estate, high-value vehicles, antiques, art, and various financial securities, and then withdraw cash from resale and deposit it in the bank, gradually evolving into legal monetary funds.
5. Use the securities and insurance industries to launder money, bearer bonds or futures. Due to the huge amount of transaction funds in the securities industry and the variety and complexity of financial instruments and transactions, many money laundering crimes are carried out through securities transactions including stocks, bonds, and futures.
6. Take advantage of the excessive confidentiality measures of personal assets in countries and regions such as offshore financial centers and bank secrecy havens.
7. Carry out unfair import and export trade, even register a leather bag company and conduct virtual transactions.
8. Transfer overseas. At present, the most common method of money laundering is to transfer black money out of the country, or to collect illegal money abroad and launder it.
9. Use the legal financial system to launder money. Criminals launder stolen money through banks or non-bank financial institutions. In particular, some criminal suspects use fake IDs to open multiple accounts in banks to transfer and hide illegal gains and their proceeds.
Legal basis: Article 191 of the "Criminal Law of the People's Republic of China" is to cover up and conceal drug crimes, organized crimes of a mafia nature, terrorist crimes, smuggling crimes, corruption and bribery crimes , the source and nature of the proceeds from the crime of disrupting financial management order, the crime of financial fraud, and the proceeds thereof, and who commits any of the following acts, the proceeds from the commission of the above crimes and the proceeds thereof shall be confiscated, and he shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, A fine may be imposed concurrently or solely; if the circumstances are serious, the person shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined: (1) Those who provide a capital account; (2) Those who convert property into cash, financial instruments, or securities; (3) Transferring funds through transfer or other payment and settlement methods; (4) Transferring assets across borders; (5) Using other methods to conceal or conceal criminal proceeds and the source and nature of the proceeds. If a unit commits the crime in the preceding paragraph, the unit shall be fined, and the person directly in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.