Under what conditions is fraud prosecuted? According to Article 266 of the Criminal Law of the People's Republic of China, the crime of fraud refers to the act of defrauding a large amount of public or private property by fabricating facts or concealing the truth for the purpose of illegal possession. The object of the crime of fraud is not to defraud other illegal interests. Its target should also exclude loans from financial institutions. The crime of loan fraud has been specifically stipulated in Article 193 of this Law. It is generally believed that the basic structure of the crime is: the perpetrator commits fraud for the purpose of illegal ownership → the victim has a wrong understanding → the victim disposes of property based on the wrong understanding → the perpetrator obtains property → the victim suffers property losses. Is this easy to understand?
