RT Article
T1 Crime and crisis in China’s P2P online lending market: a comparative analysis of fraud
JF Crime, law and social change
VO 79
IS 4
SP 369
OP 393
A1 Huang, Li
A2 Pontell, Henry N. 1950-
LA English
YR 2023
UL https://krimdok.uni-tuebingen.de/Record/1843689790
AB White-collar criminality continues to be a significant issue in countries with differing levels of economic development. This paper provides a comparative analysis of white-collar crime and crises through an examination of the recent peer-to-peer (P2P) online lending crash in China. It considers criminological findings from major United States crises in light of China’s P2P online lending market failure through the lens of white-collar crime theory and research. The findings show that fraud was a main contributor to the P2P online lending crash and that various structural factors facilitated financial crimes that caused the collapse of the P2P online lending market. This study indicates that, similar to the U.S. experience, crime-facilitative environments allowed for endemic fraud in China’s online lending industry. It suggests that a primarily reactive approach to financial crime is less effective than a proactive system of compliance that includes more comprehensive and transparent financial regulation and law enforcement.
NO Literaturverzeichnis: Seite 390-393
K1 Financial Crime
K1 Financialization
K1 Lax regulation
K1 Peer-to-peer online lending
K1 System capacity
DO 10.1007/s10611-022-10053-y