1, according to the relevant laws of our country, illegal settlement of foreign exchange, the punishment is:

(1) The foreign exchange administration authorities shall order the recovery of illegal foreign exchange settlement funds and impose a fine of less than 30% of the illegal amount;

(2) Whoever brings foreign exchange into or out of the country in violation of regulations shall be given a warning by the foreign exchange administration and may be fined less than 20% of the illegal amount.

2. Legal basis: Article 39 of the Regulations of People's Republic of China (PRC) on Foreign Exchange Control.

Whoever, in violation of the regulations, transfers domestic foreign exchange abroad, or transfers domestic capital abroad by deception, etc., shall be ordered by the foreign exchange administration to repatriate foreign exchange within a time limit and be fined not more than 30% of the amount of foreign exchange evaded; If the circumstances are serious, a fine of not less than 30% of the equivalent value shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.

Article 40

Foreign exchange receipts and payments in RMB in violation of regulations, or illegal arbitrage activities such as fraudulent purchase of foreign exchange from financial institutions engaged in foreign exchange settlement and sale. , the foreign exchange administration shall order the exchange of illegal arbitrage funds and impose a fine of less than 30% of the illegal arbitrage amount; If the circumstances are serious, a fine of not less than 30% of the illegal arbitrage amount shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.

Second, the difference between foreign exchange futures contracts and foreign exchange forward contracts

The main differences between foreign exchange futures contracts and foreign exchange forward contracts are as follows:

1, the market nature is different. Foreign exchange futures contracts are traded in the centralized market, that is, the exchange, while foreign exchange forward contracts are traded in the over-the-counter market, that is, the bank counter;

2. The maturity date is different. Foreign exchange futures contracts have a standardized expiration date and month, while the expiration date of foreign exchange forward contracts is tailored according to the needs of customers, usually within one year;

3. The price is determined in different ways. The price of foreign exchange futures contracts is determined by public bidding on exchanges or through electronic trading systems. The buying price and selling price of foreign exchange forward contracts are determined by traders in the wholesale market after considering the difference between spot exchange rate and interest rate;

There are different ways to prevent breach of contract. The control of foreign exchange futures contracts on customers' credit risk depends on margin requirements and daily evaluation system to prevent blocking default events. There is no margin requirement for foreign exchange forward contracts, but banks will conduct credit surveys on customers, or only provide forward contracts for customers with good long-term relationships;

5. Different delivery methods. The settlement of foreign exchange futures contracts rarely adopts physical delivery, but mostly adopts cash delivery, while foreign exchange forward contracts are almost all physical delivery;

6. The transaction cost is different. The transaction cost of foreign exchange futures contracts is commission, while foreign exchange forward contracts do not charge commission, but the bid-ask spread is actually a form of "commission" charged by banks;

7. The trading hours are different. Foreign exchange futures contracts are traded within the business hours stipulated by the exchange. Foreign exchange forward contracts are traded through the bank's global network connection system, which can be said to be 24-hour trading.