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. There are five kinds of crimes that a unit can commit: fund-raising fraud, bill fraud, financial voucher fraud, letter of credit fraud and insurance fraud. The crime of financial fraud is separated from ordinary fraud, but it is not a fraud crime in the traditional sense. The criminal law separates it from the common crime of fraud, except for decomposing the crime of pocket fraud, the main reason is to maintain the order of financial management. With the deepening of reform and opening up and the gradual establishment of the socialist market economic system, criminal activities in the financial field have also increased sharply, among which financial fraud has become one of the most harmful economic criminal activities, seriously undermining the fiscal and taxation order and social order of the country and directly endangering the healthy development of economic construction. Financial fraud has become a major public hazard in the current financial field.

Preventing and cracking down on financial fraud according to law has become the consensus of all countries in the world. Because our criminal law is relatively principled and general, and there is no specific and detailed judicial interpretation, difficulties and doubts often appear in the identification and handling of such crimes in practice. In particular, there are great differences in the understanding of the purpose of crime, which affects the punishment of such crimes. This paper aims to analyze the position of "for the purpose of illegal possession" in the constitutive elements of financial fraud. Section 5, Chapter 3 of the Specific Provisions of Criminal Law of China includes eight specific financial fraud crimes. Only the crime of fund-raising fraud in article 192 and the crime of loan fraud in article 193 respectively stipulate "for the purpose of illegal possession" as the constitutive elements of these two crimes, while the other six specific financial fraud crimes, namely bill fraud, financial voucher fraud, letter of credit fraud, credit card fraud, securities fraud and insurance fraud, are not.