Research On The Criminal Regulation Of On-line Peer-to-Peer Lending

The development of Online Peer to Peer Lending is a major innovation in the modern financial field,in line with the needs of social development.This innovative product has promoted the development of China's financial sector.On one hand,it has enabled private flow to have a more efficient investment platform.On the other hand,the capital pressure of private enterprises in China is high,which effectively releases private capital.However,the "alienated" Online Peer to Peer Lending model has caused the entire industry to face enormous criminal legal risks and there are many legal issues that still need to be resolved,both in terms of crimes and the judicial system.This paper introduces the general situation of Online Peer to Peer Lending,statistics the conviction and sentencing data in the legal judgment,analyzes the criminal justice's penalties for Online Peer to Peer Lending cases and the criminal policy of "temper justice with mercy" that has not been treated differently.It is necessary to carry out the criminal regulations in the Online Peer to Peer Lending industry,but it does not mean that severe punishment is conducive to alleviating the current chaos.The connection between Administrative Lawand Criminal Law and the mitigation of punishment are beneficial to the development of Online Peer to Peer Lending industry.This article is divided into four main sections:The first part introduces the origin of Online Peer to Peer Lending and the development status of Online Peer to Peer Lending in China,objectively summarizes the benefits of financial innovation brought by Online Peer to Peer Lending to China and its future development trend.By collecting and sorting data on Online Peer to Peer Lending,the problems exposed by the Online Peer to Peer Lending industry are highlighted.This paper introduces the harm of the "alienation" Online Peer to Peer Lending model,analyzes and demonstrate the conclusion of the necessity of criminal law regulation.In the second part,empirical analysis is carried out to present the content of criminal cases related to Online Peer to Peer Lending in 50 judicial documents in the form of data.The first part analyzes the tabular data to draw a conclusion about the types of crimes and the pattern of criminal behavior on the Online Peer to Peer Lending platform in judicial practice.The second part further analyzes the scale of conviction and sentencing of Online Peer to Peer Lending cases,and compares it with the conviction and sentencing scale of traditional fund-raising cases to draw conclusions,which provides data support for the subsequent third part of the dilemma of criminal law regulation.The third part focuses on the dilemma of the criminal law regulation.According to thedata analysis conclusions in Chapter 2,this part analyzes the dilemma of the criminal law regulation from four aspects.The first aspect is based on the “Principle of Necessity” and“Principle of Supplementary” of criminal law.The excessive intervention of criminal law from the perspective of the low threshold of criminal offense reflected by the data,the extremely low probability of acquittal and felony to misdemeanor.Second,the conviction standard is rigid.From the data analysis of the research samples,it can be seen that the judicial practice uses the "amount + object" model to convict and sentence.The thinking mode is rigid,which cannot be judged only based on the simple "amount + object" model.It should consider whether to disrupt the financial management order,it is reasonable to consider convictions in combination with various factors.The ambiguity of the crime of illegally absorbing public deposits and the crime of fund-raising fraud is not well understoodin the practice of "illegal possession" as a distinction between the two crimes.The“Seven Articles” listed in the judicial interpretation play a guiding role,but the general practicality is not strong,and the judgment standards are different.Third,the sentencing standard is unreasonable,mainly reflected in the deviation from the criminal policy of "temper justice with mercy".The sentencing of Online Peer to Peer Lending cases is obviously heavier than the traditional fund-raising cases,and the punishment of judicial practice is extremely heavy.The fourth aspect applies a single type of penalty.The probability of applying the qualification penalty is extremely low,the non-penalty punishment measures are applied less,and the effect of penalty punishment is not obvious.The fourth part proposes corresponding solutions to the above four dilemma of criminal law regulation.First of all,the criminal law should abide by the " Principle of Necessity" and " Principle of Supplementary ".Criminal law is only involved when the supervision of other departmental lawsis exhausted.Secondly,by clarifying the scope of the criminal object,limiting the impact of the criminal law.In addition,factors to be considered in determining the “purpose of illegal possession” are not only "amount + object",but also many other factors that need specific analysis.Thirdly,it is suggested that the lenient punishment system should be applied in the improvement of the sentencing.The penalty is the means rather than the purpose,the mitigation of the penalty is conducive to the crime control.Additionally,in order to protect the rights and interests of victims,a compensation mechanism should be established.It can not only effectively help the victims to recover their losses,but also help to achieve the goal of promoting social stability.Finally,starting from the diversification of criminal sanctions,it is suggested to add more non-penalty punishment measures from the perspective of legislation and improve the non-penalty punishment measures to help control the crime.