the crime of financial fraud refers to the act of defrauding public or private property or the credit of financial institutions by fictional facts or concealing the truth for the purpose of illegal possession, which undermines the order of financial management. There are five crimes that can be constituted by the unit: fund-raising fraud, bill fraud, financial voucher fraud, letter of credit fraud and insurance fraud. The crime of financial fraud is separated from the crime of ordinary fraud, but it is not a fraud crime in the traditional sense. The criminal law separates it from the ordinary crime of fraud, in addition to decomposing the pocket crime of fraud, the main reason is to maintain the order of financial management.

how to correctly identify the boundary between financial fraud and non-crime in judicial practice?

the key is to determine whether it has "the purpose of illegal possession".

(1) First, let's see if there is one of the legal crimes of financial fraud. Financial fraud crimes are all crimes aimed at illegal possession. In addition to the malicious overdraft in the crimes of loan fraud, fund-raising fraud and credit card fraud, the specific behaviors listed in the criminal law for committing bill fraud, financial voucher fraud, letter of credit fraud, credit card fraud (except malicious overdraft), securities fraud and insurance fraud are important basis for identifying the purpose of illegal possession.

(2) Secondly, according to the experience of judicial practice, one of the following circumstances can be considered as having the purpose of illegal possession:

① defrauding a large number of funds knowing that they have no repayment ability;

② fleeing after illegally obtaining funds;

③ wantonly squandering and defrauding funds;

④ using fraudulent funds to engage in illegal and criminal activities;

⑤ withdrawing, transferring funds or concealing property to avoid returning funds;

⑥ concealing or destroying accounts, or engaging in false bankruptcy or false bankruptcy to avoid returning funds;

⑦ Other illegal possession of funds and refusal to return them ". It should be noted that these seven situations are all based on the premise that "the actor illegally obtained funds through fraud, resulting in a large amount of funds that cannot be returned". It is impossible to determine that the actor has the purpose of illegal possession only based on these seven situations, nor can it be punished as financial fraud simply because the property cannot be returned.

Extended information:

Composition characteristics

1. The object is a complex object that violates the financial management order and the ownership of public and private property, and the former is the main object.

2. Objectively, it is manifested as: using fictional things or concealing the truth to disrupt the financial management order and defraud public and private property, and it is a large amount of behavior.

3. The subject is a general subject, which can be composed of both units and natural persons. However, the following three crimes cannot be constituted by units: loan fraud, credit card fraud and securities fraud.

4. Subjectively, it is intentional and has the purpose of illegally occupying public or private property. This is also an important basis for this kind of crime to distinguish it from crimes that undermine the order of financial management.

types: fund-raising fraud, loan fraud, bill fraud, financial voucher fraud, letter of credit fraud, credit card fraud and insurance fraud.