On The Criminal Law Regulation Of Internet Finance In China

The Internet finance is a new financial services model relying on the Internet and mobile communications technology to realize information intermediation, financing and payment in the Internet era. Multi-dimensional collection and in-depth utilization,(traditional) disintermediation and backstage transformation of traditional financial institutions are the three main characteristics of the Internet finance. Currently, there is no clear and unified definition of the Internet finance in the industry and academia, and it mainly includes four modes, namely Internet payment, P2 P network credit, publicly raised financing and network financial planning.In order to protect China’s financial security, create a favorable environment for financial innovation, promote financial innovation and other aspects, exploring criminal regulations for the Internet finance is of important significance. Currently, there are problems in China’s Internet finance sector. As the financial regulatory system is imperfect, there is a lack of comprehensive credit information systems and standardized financing models, and the electronic information system has technical and managerial defects, there are major criminal risks in China’s Internet financial sector.The major criminal risks existing in the Internet financial sector are the fundamental reason for exploring criminal regulation. From the perspective of legal regulation, criminal risks of the Internet finance are divided into two aspects. One is criminal risks in operating Internet financial business, mainly referring to violation of criminal laws by Internet financial institutions in the establishment and operation processes. The other is criminal risks of using the Internet finance to commit illegal and criminal acts, mainly referring to using the Internet finance as a guilty tool or means to implement criminal violation. The classification criteria for operating and using the Internet finance are not completely independent, but inter-cross and overlap to a certain degree.The individual crime analysis in the Internet financial sector is the premise for exploring criminal regulation. Currently, the China’s criminal charges only can meet part of the demand of cracking down the Internet financial crimes, which need to be further developed and perfected. The criminal regulation in the Internet financial sector is facing both limitation and Revision problems. On the one hand, the criminal regulation should be limited by following the principle of legality of criminal laws, the secondary illegality principle and the modesty principle. One the other hand, the criminal regulation should keep up with the development of times, promulgating the judicial interpretation and the amendment to the criminal law to make up for the limitations and lag which codified law itself owns. This will allow the criminal law to adapt to the needs of social reality, to play a more important role in social protection.