1. Subjectively, it is intentional, and for the purpose of illegal possession, it uses fraudulent methods to raise funds;

2, the amount is large, in violation of relevant financial regulations;

3. Raise funds from unspecified social objects;

4. Disturbing the normal financial order of the country and infringing on the ownership of public and private property.

Illegal fund-raising refers to the behavior that a unit or individual raises funds from the public by issuing stocks, bonds, lottery tickets, investment fund securities or other bond certificates without the approval of the relevant departments in accordance with legal procedures, and promises to repay the principal and interest to investors in cash or in kind within a certain period of time.

Illegal fund-raising activities mainly have the following four basic characteristics:

First, without the approval of the competent department according to law;

The second is to raise funds from unspecified social objects, that is, the public, such as public and non-public issuance of stocks and bonds without approval;

The third is to promise to give investors a return on investment in the form of money, kind and equity within a certain period of time. Some lawless elements absorb funds by providing seedlings and other forms, and promise to pay returns by purchasing or underwriting products; Others absorb funds in the form of commodity sales and give returns in the form of promised leaseback, repurchase and transfer;

The fourth is to cover up the purpose of illegal fund-raising in a legal form. In order to cover up their illegal purposes, criminals often sign contracts with victims and pretend to be normal production and business activities.

Legal basis:

Criminal law of the people's Republic of China

Article 192 Whoever illegally raises funds by fraudulent means for the purpose of illegal possession, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan or confiscated property.

Article 176 Whoever illegally absorbs public deposits or absorbs public deposits in disguised form, thus disrupting financial order, shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention, and shall also, or shall only, be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan. 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.