The Essential Characteristics and Judicial Determination of New Financial Crimes

Abstract

The finance is an indispensable part of the quotidian business and daily life, also plays a vital role in the flourish and prosperity of the nation. A stable financial system and a healthy financial market is the prerequisite of the financial innovation and the backbone to become the financial powerhouse, which strengthening the financial competitiveness and enhancing the international financial clout. Simultaneously, science and technology advance by leaps and bounds, the deep integration and coalescence of the financial industry and the internet with other state-of-the-art technologies and devices catalyze the new financial crimes to become the cynosure which draws the prodigious attention and contentious debate around the academics and the professional practitioners. The financial crimes always have the idiosyncrasies that involving a wad of money, inflicting a passel of victims, and wreaking tremendous havoc toward the financial system and is doing an enormous disservice to the social stability and harmony. In recent years, the perpetration which involve the financial means is also increasingly rampant and prevalent, posing great challenge to the innovation and financial regulation. To prevent and defuse the huge financial risk caused by the new financial crime, the response from the criminal law and criminal policies is pivotal and valuable.To combat this kind of sinister crime and safeguard the steady progress of financial market and the tranquility of the society, the priority is to pinpoint the conception and purview of the new financial crime to ensure that the relevant party has an accurate and precise understanding of the features belong to the new financial crime to make sure do not let a single involved get loose or the innocent to fall to the justice. The current penal policies are the tool to learn the contemporary understanding of the new financial crime and how to confront and defeat it, to assist the academics perceive whether or not the nowadays tactic toward this treacherous crime is commensurate to its complexity and severity, or whether or not the strategy we have adopted is compatible to the principles and dicta stipulated by the Criminal law. The judiciary authority can also apply the policies into the judicial praxis and garner the useful feedback or the outcome of the practice to embellish the policies to better tackle the autochthonous and epochal challenge. This article will also delve into the distinct characteristics of the new financial crime, including the crime object, the target of the crime, actus reus, mens rea, et cetera. The meticulous dissection of new financial crime is beneficial for the judiciary practice to have a better identification and implementation of the relevant statutes and rules. Some salient and archetypal quandaries or conundrums have been succinctly and pithily displayed and discussed in this article to look forward finding the loose end of the entangled skein related to the new financial crimes. To form a permanent, stable, effective and reliable financial security in conjunction with the sophisticated and formidable governance of new financial crimes is the best way to spur the momentum of the financial industry, rectify the systematic and inveterate glitches and loopholes, establish a resilient and robust financial system and platform, and simultaneously, to some extent get rid of the miasma spewed from the specter of the new financial crimes.