Article 19 1 money laundering crime
Whoever knowingly conceals the source and nature of the proceeds of drug crimes, organized crimes of underworld nature, crimes of terrorist activities, crimes of smuggling, crimes of corruption and bribery, crimes of disrupting financial management order and crimes of financial fraud shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 5% but not more than 20% of the amount of money laundered; If the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined not less than five percent but not more than twenty percent of the money laundering amount:
(1) Providing capital accounts;
(2) Assisting in converting property into cash, financial bills and securities;
(three) to assist the transfer of funds through transfer or other settlement methods;
(four) to assist the remittance of funds abroad;
(5) concealing or disguising the source and nature of the proceeds of crime and their proceeds by other means. "
If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention; If the circumstances are serious, they shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years.
Extended data:
Impact of money laundering:
Money laundering has caused extremely serious economic, security and social consequences. Money laundering provides impetus for the activities and development of drug traffickers, terrorists, illegal arms dealers, corrupt government officials and other criminals. Due to the rapid development of science and technology and the globalization of financial services, money laundering is becoming more and more international, and financial problems related to criminal activities are becoming more and more complicated.
According to the statistics of the International Monetary Fund, the annual amount of illegal money laundering in the world accounts for about 2% to 5% of the global gross domestic product, ranging from 600 billion to10.8 trillion US dollars, and the annual amount is still increasing by10 billion US dollars. Especially in the current situation of economic globalization and internationalization of capital flows, money laundering is extremely harmful to the security of the international financial system and the international political and economic order.
References:
People's Republic of China (PRC) Criminal Law-Peking University Law Information Network