Legislative Application And Completeness Of Illegal Public Money Absorbing Crime

Recently, China’s market economy developed at such a high speed, which deeplymotivated its financial services’ booming, especially in the direction of private moneylending. For those small and medium enterprises (SMEs), the traditional way offinancing was apply for small business loans from banks running a series ofprocedures and waiting for the loan approval with expenses going out every day.Additionally, with related regulations getting detailed and promoted, SBA loans nowhas a even higher entry, that helps explaining why the private money are so popularthose days. In order to restrict the private illegal fund-raising activities, China hasgradually built the economy law system including Civil and Commercial Law,Administrative law and Criminal law. But still, when those regulations turned tojudicial practice, lots of questions came out. One typical debate was about whether itis reasonable to use criminal law intervening some financial institutions absorbingpublic money since the law entry is very low and the relevant definition is unclear…Thus, there’s no doubt to emphasize the importance of completing China’s economiclaw system, clearing the definitions of illegally absorb the public deposits anddeciding its future. And this thesis will give a deep research about how to face thosepractical problems of illegally absorbing public deposits issue and what can be doneto complete the law system. To be specific, first part mainly focused on the general introduction of China’sillegal public money absorbing crime, containing its resources, characteristics, currentsituation and related law development. According to the newest research, Illegal,Publication, Profit-approaching and Socialization are the four basic characteristics ofillegally public money absorbing. The causes of the crime comprise complicatedsocial economic, legislation and victim factors. Along with the changing situation ofeconomy in our country, the legislation of illegal public money absorbing crime grewout of nothing following the real need of economic growth. This essay verticallypresents the evolution of illegal public money absorbing crime in our country, for thepurpose of set a steppingstone for discussing related issues of illegal public moneyabsorbing crime in the following chapters.The second part of the essay focuses on the question whether the crime of illegalpublic money absorption should be kept of annulled. It states main points of view ofacademics, and by analyzing the shortages of “decriminalization of illegal publicmoney absorbing crime” explores the essential differences between private loan andillegal public money absorbing crime, and then suggests the charge should be kept.The third part of the essay mainly discusses the puzzling issues in regard tojudicial practice of the crime of illegal absorption of public deposit. It comprises threeparts including the judicial determination of the crime, the criminal law analysis ofspecial deposit absorption, and issues of accomplice in the crime of illegal absorptionof public deposit. This essay, with judicial interpretation taken into account, deeplyanalyzes the crime of illegal absorbing deposits of the public by both substantive andpro forma levels. In regard of some kinds of special deposit absorption, for instance,disguised absorption of public deposit in the name of legal operation and absorptionof public deposit in the name of private placement, the essay suggests that thoseshould be convicted as crime of crime of illegal absorption of public deposit. And thedirect financing should be decriminalized. For the issues of accomplice, this essaydeeply analyzes it by considering whether the staff is intermediary and external, along with the relevant action taken to judge the criminal obligation of the accomplices.The last part of the essay specifically discusses the legislative completeness ofillegal public money absorbing crime by combining two topics which are narrowingthe scope of application and improvement of illicit money recovery mechanism. Thisessay points out that based on the current economy and future trend of finance, theapplication of illegal public money absorbing crime should be narrowed from thepoint of "what it should be" and "what it is", to provide some free zone for the private.Meanwhile, when the judicial office strikes the crime, illicit money recovery shouldbe emphasized. This essay presents the issues in the current illicit money recoverymechanism, along with the real condition, to put forward relevant enhancementadvices in order to protect the aggrieved person.