How is the crime of fraud defined?

According to Article 266 of the Criminal Law of People's Republic of China (PRC), the crime of fraud refers to the act of fabricating facts or concealing the truth for the purpose of illegal possession, and defrauding a large amount of public or private property. The object of the crime of fraud is not to defraud other illegal interests. Its goal should also exclude loans from financial institutions. Because this law has specifically stipulated the crime of loan fraud in article 193.

It is generally believed that the basic structure of this crime is: the actor commits fraud for the purpose of illegal possession → the victim has a wrong understanding → the victim disposes of the property based on the wrong understanding → the actor obtains the property → the victim suffers property losses.

Extended data:

According to 1998 jointly issued by Beijing Higher People's Court, Beijing People's Procuratorate and Beijing Public Security Bureau in July, the documents on eight kinds of crimes against property stipulate the amount standards of eight kinds of crimes against property in Beijing, such as theft, fraud, embezzlement and robbery: the amount standard for fraud (calculated in RMB) is more than 3,000 yuan; The amount is huge and above 50,000 yuan; The amount is extremely huge, more than 200 thousand yuan. It also stipulates that the amount is an important criterion for determining the crime of infringing property, but it is not the only criterion. In addition to the amount of property infringement, we should make a comprehensive analysis according to other specific circumstances of the crime, as well as the guilty attitude and repentance of the fraud suspect, in order to correctly convict and sentence.

References:

Baidu fraud encyclopedia