1. Hong Kong underground bank

According to the statistics of Bloomberg, there are more than 65,438+0,200 money exchange offices engaged in wealth transfer business in Hong Kong. The handling fee is about HK$ 1 10,000 (7.7507, 0.000 1.000%), which is higher than the bank transfer 1 10,000 yuan (6.3362, -0.00%).

The principle is: a mainlander first comes to Hong Kong to open a bank account in Hong Kong, and then goes to a money exchange shop to transfer his domestic RMB (6.3362, -0.00 13, -0.02%) account to the domestic account of bank owner B. B After confirming the collection, calculate the exchange rate and commission, and then transfer the same amount of USD or HKD (7.7507, 0.02%).

This process can usually be completed in two hours. In this mode of operation, domestic and foreign parties regularly hedge and settle the difference, and there is no cross-border flow of funds.

However, this method requires business balance and hedging between the two places, and the short-term difference needs to be paid in advance by itself, which requires higher capital mobilization. If the bank has insufficient capital, it may lose a lot of business.

2. Underground money houses in Chinese mainland

The money changer will hand over RMB (6.3362, -0.00 13, -0.02%) that needs to be transferred to domestic underground banks to Zhuangzhuang to draw a foreign currency check from a bank in Hong Kong to the domestic money changer. Because of its small size, it can be carried out by money changers themselves and then exchanged.

Some investors use the checks they carry to buy houses in Hong Kong. House prices in Hong Kong rose by 13.5% last year and by 9.5% this year. David Ji, research director of Knight Frank, a real estate agency, said, "If it is not an informal channel, how can you explain the huge increase in housing prices in Hong Kong?"

3. Multi-account "ant moving"

Using the policy of "cross-border remittance of $50,000 per year by individuals", collect relatives and friends or buy a large number of personal identity cards, open a settlement account, and deposit a large amount of funds in the bank and remit them.

The regulatory authorities have noticed the harm of this ant-moving wealth transfer. On September 9 this year, many media reported that SAFE had issued a document asking banks to be alert to possible spin-off transactions and refused to purchase foreign exchange if necessary.

According to the regulations of safe, five or more different individuals remit foreign exchange to the same person or institution abroad after purchasing foreign exchange on the same day, every other day or for several consecutive days; Individuals withdraw foreign currency cash close to the equivalent of $65,438+0,000 yuan from the same foreign exchange savings account for more than 5 times within 7 days; The same person transfers the deposits in his foreign exchange savings account to more than five immediate family members, etc. , defined as the behavior of individual splitting settlement and sale of foreign exchange.

For example, Xiaoming plans to buy a house in the United States, and he is trapped in the annual foreign exchange purchase quota of 50,000 US dollars. So he mobilized his relatives to buy foreign exchange and then wired it to him (the same day, the next day or several days in a row). This may constitute a spin-off transaction for individuals to purchase foreign exchange. If the total amount of foreign exchange purchased within 90 days exceeds the equivalent of US$ 200,000, Xiaoming will be on the bank's "attention list". Foreign exchange transactions and remittances may be suspended.

4. Buy back goods

Some jewelry stores in Hong Kong offer a special service of "repurchase". You can use UnionPay cards to brush gold bars and then sell them to jewelry stores at a certain discount.

5. "refit" POS machine

The so-called "modified" UnionPay terminal is a network technology used by criminals. Whenever someone uses the UnionPay credit card in Hong Kong/Macau, the UnionPay system is deceived and mistakenly thinks that the transaction is going on in the Mainland, thus saving the relatively expensive handling fee for overseas transactions and avoiding the monitoring of domestic foreign exchange control, and becoming a channel for domestic funds to transfer overseas.

6. Entrainment of cash

The most primitive way to "exchange money" is to carry cash. Because there are restrictions on the amount of cash carried in and out of the country, one way is to go back and forth many times through crowd tactics, and the other way is to carry it through special channels, smuggle it directly and avoid inspection. Shenzhen and Hong Kong are separated by a river, which is not an insurmountable barrier for some "water passengers". But what is certain is that this method is more labor-intensive and risky.

7. Use of foreign exchange settlement and sale quota of enterprises

Individuals use the current projects of foreign trade companies to conduct transactions.

When foreign trade companies need to remit funds, they will report more imports and less exports. When importing, they will quote higher prices of imported goods, and the money corresponding to the corresponding price difference will stay abroad;

Remitting money in is the opposite, reporting more exports and less imports. Some even directly forge export trade projects of enterprises and use import and export contracts to defraud the foreign exchange settlement quota approved by SAFE for cross-border payment.

8. Mortgage of RMB assets in foreign currency

For most rich people who want to buy a house overseas, there are domestic banks that can provide funding channels. According to Bloomberg, China Construction Bank launched a business last year, which allowed its private banking customers to borrow 20 million Hong Kong dollars (7.7507, 0.000 1, 0.00%) in Hong Kong with RMB deposits and assets as collateral.