Second, according to Article 4 of the Measures for Banning Illegal Financial Institutions and Illegal Financial Business Activities, "The illegal financial business activities mentioned in these Measures refer to the following activities without the approval of the People's Bank of China:
(1) illegally absorbing public deposits or absorbing public deposits in disguised form;
(2) illegally raising funds from unspecified objects in any name without legal approval;
(three) illegal loans, settlement, bill discount, capital lending, trust and investment, financial leasing, financing guarantee, foreign exchange trading;
(4) Other illegal financial business activities identified by the People's Bank of China. The illegal absorption of public deposits mentioned in the preceding paragraph refers to the activities of absorbing funds from unspecified social objects without the approval of the People's Bank of China, issuing certificates and promising to repay the principal and interest within a certain period of time;
As long as the above conditions are met, it can be identified as the crime of illegally absorbing public deposits, which is a criminal offence.