How to identify financial fraud
The crime of financial fraud refers to the act of defrauding public or private property or the credit of financial institutions and undermining the order of financial management by using fictional facts or concealing the truth for the purpose of illegal possession.
(1) The crime of financial fraud infringes on the social relations protected by the national criminal law, and it is the social relations infringed by this crime.
As far as the object of fraud is concerned, the object of fraud is public and private property. From this perspective, the object of financial fraud is the ownership relationship between public and private property. However, the object of financial fraud is not a single object, but a complex object. It not only violates property ownership, but also violates the national financial management order and destroys the national market economic order.
(2) The methods, forms and harmful consequences of financial fraud.
The objective aspect of the crime of financial fraud is to defraud a large number of public and private property by means of fund-raising, loan, bill settlement, letter of credit, credit card use, insurance claims, securities trading and payment. By making up facts or hiding the truth.
(C) the subjective factors of financial fraud
The crime of fraud must have the purpose of illegally possessing public and private property, and must have the intention of illegally changing the ownership relationship between public and private property. This crime can only be constituted by intention. The following are the two main components of this crime:
1. If fraud is committed in the form of fund-raising, loan, bill settlement, financial voucher settlement, letter of credit, credit card use, securities trading and payment, the criminal subject is the general subject, that is, natural persons and units with full criminal responsibility, including foreigners and stateless persons.
2. Those who cheat in the form of insurance claims are special subjects, that is, the applicant, the insured, the beneficiary, the person in charge of the unit crime, the appraiser of the insurance accident, the witness and the property appraiser who intentionally provide false certificates shall also be punished as * * * *.
Financial fraud and telecom fraud are different, the difference is: 1, and the objects of the two crimes are different. The target of telecom fraud is very simple. The object of the crime of contract fraud is a complex object. 2. The objective aspects of crime are different. According to the law, the objective expression of the crime of contract fraud must be related to the contract, that is, the deception committed by the actor must occur during the signing and performance of the contract. However, telecom fraud crime objectively has no such special restrictions. 3. The subject of crime is different. The subject of telecom fraud is a natural person, and the unit cannot be the subject of crime, while the subject of contract fraud can be either a natural person or a unit. 4. The standards for determining the amount of the two crimes are different. Generally speaking, the standard of contract fraud is higher than telecom fraud.
I hope the above content can help you. Please consult a professional lawyer if you have any other questions.
Legal basis: People's Republic of China (PRC) Criminal Law.
Article 266 Whoever defrauds public or private property in a relatively large amount shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also or solely be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years, and shall also be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined or confiscated. Where there are other provisions in this Law, such provisions shall prevail.
Article 192 Whoever illegally raises funds by fraudulent means for the purpose of illegal possession shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years; if the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than seven years or life imprisonment and shall also be fined or confiscated.
If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.