Analysis On The Dissimilation Behavior Of P2P Lending Platform In China And The Identification Of Fund-Raising Crime

P2P(Peer-to-peer)lending is a product of the combination of peer-to-peer technology and traditional lending,as well as a demand-driven product in the 1.0 era of fintech.It has promoted the development of financial innovation and inclusive finance in China for more than a decade.In China,P2 P lending platforms are positioned as information intermediaries,and the compliance operation mode is pure information intermediary mode.However,the pure information intermediary model is difficult to continue under the background of the prominent rigid payment investment culture in China.In the process of localization adjustment,P2 P lending platforms continue to dissimilar behavior pattern,coupled with the herd-like adverse selection of fund-raising participants,P2 P lending industry is deeply in a lemon dilemma.In recent years,the crime cases of platform fund-raising have exploded,and the accurate and proper identification of fund-raising crime has become an urgent problem to be solved.The identification of crime of fund raising on P2 P lending platform is actually the identification of whether the operation behavior of P2 P lending platform is a crime of fund raising.Therefore,the alienation behavior of P2 P lending platform is the key to the identification.With platform operating purposes,to raise capital flow as the standard,the current financing crime mainly include the collection pool,platform from the melt,pseudo platform model and platform from the guarantee behavior model,four kinds of alienation to be typed analysis,dialysis the alienated behavior mode of complex and diverse forms,is the follow-up accurately distinguish crime on the basis of financial wrongdoing and financing.After the dissimilation behavior pattern of P2 P lending platform,dissimilation from information intermediary to credit intermediary is a financial illegal behavior,but whether it constitutes a fund-raising crime or not,the key lies in whether the dissimilation behavior of P2 P lending platform creates a risk that is not allowed by the criminal law to the financial management order.In the current judicial practice,the four characteristics of the crime of illegally absorbing public deposits have been used as the criterion to determine the phenomenon of "formulation",which is against the principle of the second illegality of the legal offense.Firstly,maintaining financial security is the specific connotation of maintainingthe current financial management order.We should adhere to the criminalization standard of the legal interest view of financial security,and make clear the criminalization limit of platform alienation behavior as a threat to financial security.Secondly,the key to distinguish the crime of illegally absorbing public deposits from the crime of fund-raising fraud lies in the determination of the purpose of illegal possession.To be specific,in the pooled capital model,the operation mode of the pool is the key to judge whether the platform has committed a crime of fund raising or not.Those who try to imitate or replace the role of financial institutions in absorbing and lending funds to the pool and reach a degree of uncontrollable risk should be considered as a crime of fund raising.In the self-financing mode of platform,the capital flow of self-financing is the key to judge the criminal illegality.Direct financing for normal production and business activities rather than indirect financing for deposit business should not be considered as a fund-raising crime.In the pseudo-platform mode,the actor is essentially conducting fund-raising fraud under the guise of P2 P lending,which should be identified as fund-raising fraud.In the model of platform self-guarantee,the lack of fund-raising behavior on the platform in the model of pure platform self-guarantee should not be considered as a crime of fund-raising,but in the model of mixed behavior,the platform self-guarantee behavior often plays a helping role in the crime of fund-raising,which should be regarded as the key evidence to identify the crime of fund-raising.