Research On The Criminal Law System Of Illegal Fund Raising

China has worked hard during the past few decades to explore the way of combating illegal fund-raising crimes.However,under the situation of the rapid development in Internet finance,the number of criminal cases keeps going up with more areas being influenced.In the face of this fact,we must realize that the existing system has not efficiently played a role in curbing illegal fund-raising crimes.Therefore,it is imperative to study the defects and improve the existing criminal law in the regulation of illegal fund-raising crimes.The illegal fund-raising crime refers to a criminal act in which the perpetrator violates the state financial supervision order and does not raise funds according to law or violates the relevant provisions of the state to raise funds from social unspecified persons and reaches certain standards,resulting in the loss of private property of citizens.It includes four characteristics:illegality,openness,sociality and attractiveness.The crimes of illegal fund-raising mainly include the crime of illegally absorbing public deposits,the crime of fund-raising fraud,the arbitrarily issuing stocks,the crime of corporate and corporate bonds,the crime of issuing stocks,the crime of companies and corporate bonds,and the crime of setting up financial institutions without authorization.Against this criminal behavior,China now has a relatively comprehensive criminal law system,but there are still many shortcomings.For example,in legislation,the lack of connection between criminal legislation and other laws and regulations,imperfect standards of objective crimes and penalties.These problems have led to the pre-emption of the criminal law against illegal fund-raising in China.They caused the indistinct boundary between non-crimes and crimes,this crime and that crime,reflecting in a large number of fund-raising activities have been evaluated as illegal fund-raising crimes.In addition,the effect of governance is not obvious is also a major problem.In judiciary,the problems of lacking uniform refereeing standards in identifying illegal fund-raising crimes,the low execution rate of fine punishment in the judiciary and the insufficient application of the qualification penalty not only caused some judicial confusion,but also influenced the existing legislation on illegal fund-raising crimes from achieving its original value.The thinking of extraterritorial countries on the regulation of illegal fund-raising crimes has far-reaching effects on the improvement of China’s crime system.China should consider the specific national conditions of the country,actively learn from the advanced experience of Germany,Japan and the United States,contributing to the perfection of the criminal law system for illegal fund-raising in China.Based on China’s current problems and learning from outside the country,in legislation,the state should improve the legislation,through strengthening the "three laws" of civil,administration,criminal laws and regulations,and perfecting the objective crime standards of "illegality","public" and "sociality".The penalty measures should be improved by constructing the penalty system of lightening the penalty,upgrading the fine punishments to the principal penalty,reducing the scope of the penalty of confiscation of property and increasing the type of qualification penalty.In judiciary,the judicial branch should regard the "use of funds" as a unified referee standard in the trial of illegal fund-raising crimes,and strengthen the enforcement of fine punishment and the application of qualification penalties.