It is not only illegal, but also criminal. Money laundering is an act of legalizing illegal gains, mainly referring to Illegal income The source and nature of its income are concealed by various means to make it formally legitimate.
The People's Republic of China criminal law 》
Article 191【 crime of money laundering 】Knowing that drug crime , organized crime of triad nature, terrorist activity crime, smuggling crime corruption Proceeds from crimes of bribery, disrupting the order of financial management, and financial fraud, as well as the proceeds generated therefrom, shall be confiscated and sentenced to less than five years if anyone commits one of the following acts in order to cover up or conceal their source and nature fixed-term imprisonment perhaps criminal detention And concurrently or solely responsible for laundering not less than 5 percent but not more than 20 percent of the money fine ; If the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years and shall also be fined not less than 5 percent but not more than 20 percent of the amount of money laundered:
(1) Providing capital account;
(2) Assisting in converting property into cash, financial instruments or securities;
(3) Assisting in fund transfer through transfer or other settlement methods;
(4) Assisting in remitting funds overseas;
(5) Covering up or concealing the source and nature of criminal gains and their proceeds by other means.
If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and the other persons who are directly responsible for the crime shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention; If the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years.
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