Research On The Application Of Criminal Law Of P2P Network Loan Fund Raising Under Internet Finance

P2P online lending is a kind of private lending finance based on the combination of Internet technology and traditional finance.It breaks through the limitations of traditional regions and provides a broad space for the investors' financial management and financing of small and medium-sized enterprises.However,at present,regulations on P2 P online lending in China are very fragmented and ineffective.There is no specific laws on it.When it comes to P2 P online lending crimes,it is usually associated with the crime of illegally absorbing public deposits and fund-raising fraud.Therefore,there is still a need for in-depth research on P2 P online lending crimes and judicial identification under Internet finance.The first chapter is an overview of the research.This part expounds the background,current status,concept and operation modes of P2 P network lending,and specifically sorts out the domestic and international supervision methods of P2 P online lending industry.There are four factors contributing to a broad market for the development of P2 P online lending industry,namely,the rise of Internet finance,the support of national financial policies,the long-term financial repression of small and medium-sized enterprises and personal financing needs.In order to adapt to the market environment of China,P2 P online lending has generated adjustments and distortions which have gradually formed the coexistence of various modes such as mediation of information,transfer of creditor's rights,guarantee of creditor's rights,and self-enrichment of the platform.Accordingly,authorities in China have issued regulations to better regulate the industry.The second chapter is a theoretical investigation of criminal law involved in P2 P online loan raising crime.The first section of this chapter elaborates on the concept of modesty and the theory of "secondary illegality" of criminal law.And it provides an idea for whether criminal law is involved in the crime of P2 P online lending fundraising under Internet finance and how to intervene.The second section analyzes the criteria and rationality of the crimes of conviction and conviction of P2 P network loans,including “damaging financial management order”,“illegality” and “serioussocial harm”.In judicial practice,it is necessary to avoid the criminalization of P2 P online lending and illegal activities.The third chapter is the judicial status of the fund-raising crime on P2 P online lending platform.This part applies the method of big data analysis to collect statistics on the judicial status of P2 P online loan financing crimes in order to better understand the criminal behavior of P2 P online loan financing under Internet finance.According to statistics,the current P2 P network loan-raising crimes have the characteristics of faster development,wider coverage,greater concealment,greater seduction,difficulty in investigation,and flooding of financial innovations,as well as behaviors of the judiciary in determining such behaviors.The subjective state of the person and the use of the fund-raising funds are not considered,and the identification of the “use of fraud method” is more concerned with the formality.There is few substantive judgment.The fourth chapter is a criminal analysis of the illegal activities of P2 P network lending.First of all,through the identification of the disputed points in the elements of the two most suspected crimes: “Illegal Absorption of Public Deposits” and“Funding Fraud”,the differences between the two crimes are analyzed one by one from the theoretical level of the traditional four elements.The judgment path of distinguishing two crimes under the dual-level two-level criminal system puts forward their own opinions.Secondly,it classifiesdifferentP2 P online loan malpractices suspected of illegal fund-raising crimes,and extracts the illegal activities of “illegal establishment of funds pool”,“provision of false borrowing targets” and “false propaganda”,as well as analyzes its crime composition.In this way,better advice can be provided on the judicial determination of P2 P online lending crimes.The fifth chapter is the criminal justice response and supervision suggestions for P2 P network loan raising in China.First of all,it is suggested that the legislature department should always uphold the concept of criminal law and moderation,moderately adjust the threshold of entry into crimes,and increase the application of the qualification penalty.The judicial organs should pay attention to the subjective crime of "illegally possessing purposes" and take substantive judgment on the "fraud method" to properly distinguish these two crimes.Secondly,combined with thecurrent application of big data,the government is encouraged to build an information sharing and service platform to promote the normalization supervision and service of the P2 P online loan industry.People should also raise their awareness of risk and good faith to input high-quality users for the P2 P online loan industry,forming a good industrial environment.Then,the platform it self's required to cooperate with commercial banks to conduct fund custody to effectively isolate the platform funds from the investors' funds,making it possible to trace and blame afterwards.Lastly,it is needed to set up risk reserves to improve the credibility of the platform.