Analysis Of Action Of Cheat Crime Of Letter Of Credit

Although being a trivial crime in the field of the bilk of criminal andfinance law, the bilk crime of letter of credit (L/C) causes the grievous resultsin practice. Nowadays, the bilk to letter of credit is very rampant, whichresults in large economic loss to the banks in Chinese and many companies.How to employ effectually the criminal approaches to strike these crimesbecomes a co-existent question between the legal field and the practicaljudicial field. This dissertation tackles from four actions of the bilk crime ofletter of credit to expatiate in detail on the actions of the bilk to letter of credit.This dissertation was divided into four chapters.Chapter one. Action of using spurious and imitative letter of credit,accessory bills or files to cheat. Spurious and imitative are two differentactions. The former is to make the fake credit; the latter is to make the fakecredit based on the real credit. The styles in using the spurious and imitativeletter of credit to cheat include several general kinds. i.e., forge and convertthe letter of credit; forge the amended letter of credit; counterfeit or forge thesigh; embezzle or borrow other bank of cryptogram; and alter the letter ofcredit. During using spurious and imitative letter of credit, accessory bills orfiles to cheat actor should understand firstly the kinds of letter of credit,accessory bills or files. Accessory bill or files of letter of credit can be dividedinto four kinds. The first kind is the transport bill; the second is the policy ofinsurance, the third kind is the commercial bill, and the fourth kind is otherbills and files. There are three kinds of actions in using these several accessorybills and files to cheat. First, beneficiary uses by oneself accessory bills or filesto cheat; second, beneficiary colludes with proposer who applies letter ofcredit to use accessory bills and files to cheat; and last, beneficiary colludeswith ship-owner to use accessory bills and files to cheat. At the last style, thecriminal action of actor centralizes mainly to use indenture and protectiveletter. Actor or coconspirator cheat directly payment for goods, or give aprotective letter in exchange for an excuse indenture, an endorse indenture, orpro-borrow indenture to cheat, or shows hostility protective letter for fetchingbale. In a word, these actions generally are based on the protective letter andthe indenture.Chapter two. Action of using the invalidated credit to cheat. In thischapter author firstly classifies the invalidated credit. The invalidated letter ofcredit can be classified as the frozen letter, out of date letter of credit, the usedcredit, and the repealed credit. The frozen credit, in other standpoints, wasonly defined as the one frozen by court. However, practice of justice, policedepartment, supervision department, and security department also have theright to freeze letter of credit. The legal foundation comes from the 77th ofcriminal litigant law. The approach in using the invalidated credit to cheat is touse directly. The purpose of such behavior is mainly to cheat the goods ofbeneficiary and the capital of bank.Chapter three. Action of cheating letter of credit. This is that oneperson compiles the falsity or disguise the fact, cheating bank to issue theletter of credit. If this person hopes to gain the letter of credit by cheating,he/she must take some actions of compiling the falsity or disguising the fact.These actions can be different from different stages. During proposer applyingletter of credit, three stages have to be gone through. i.e., submission ofrequisition for letter of credit →consignation of variety official files and copybargains→transaction of mortgage. In this chapter, author expatiates in detailon different cheat actions existed in three stages.Chapter four. Action of cheating letter of credit using other approaches.There are still many cheat action of letter of credit in practice, and authorexpatiates in detail on these four actions. i.e. Part one, action of using softstatute to cheat the letter of credit; part two, action of open the no backgroundcredit to cheat; Part three, bilk action of vicious bankruptcy and bilk action ofattorning letter of credit. Part one, the character of using soft statute to cheat isthat the sum of issuing credit is large, the commodity is generally the preform,person of issuing credit is different from importer who sigh bargain, andimporter usually request to pay relatively bail and advance payment. By usingobjective purpose of the soft statute, one is to cheat the bail or the deposit ofissuing credit; the other is to master the initiative power of letter of credit, andto exploit soft statute to cheat in four stages, i.e., letter of credit becomeseffective; bale checks up; bale lades, and bale checks and accepts. Part two,action of issuing the background of no trade. This action is that proposer whoapplies letter of credit colludes with beneficiary to give a new letter of creditin exchange with the old letter of credit for cheating capital. The character ofthis action is after actor uses letter of credit to finance, the obtained capital isused for the risk investment. Actor has no the real trade background. Thisspeculator in fact utilizes the defects of foreign exchange managing to escapeinquisition, and impose the managing defects of bank issuing the foreign credit.In summary, the essential is to borrow the foreign loans by using long termcredit Part three, bilk action of vicious bankruptcy. It is under the system of...