Documentary letter of credit fraud under criminal law regime in England and China

Documentary letter of credit fraud under criminal law regime in England and China Purpose – The purpose of this paper mainly is to examine the relevant rules concerning documentary letter of credit (L/C) fraud under criminal law in England and China. Design/methodology/approach – The paper analyses the regulations about such crime and relevant literature. Findings – The similarities and differences of such rules have been identified briefly. L/C fraud is considered a conduct crime; and unspecific or vague provisions concerning this crime may cause difficulties of application in judicial practice in both England and China. But the possible punishment for L/C fraud criminals under Chinese criminal law seems more severe than that under English law. Dealing with L/C fraud in international trade under national criminal laws is not effective. Regional and international efforts on legal assistance in cross-border criminal cases still remain to be improved. Research limitations/implications – The limitation is that it examines merely relevant substantial rules in legislation. This opens the paths to future research on the approach towards L/C fraud demonstrated in court cases in England and in China. Social implications – The research underlies the need to take serious attitude and make more effective efforts towards cross-border criminal cases, although different countries may have different rules concerning specific economic crimes. Originality/value – This paper fills the gap of a comparative study on how L/C is regulated under criminal law regime in England and China. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Crime Emerald Publishing

Documentary letter of credit fraud under criminal law regime in England and China

Journal of Financial Crime, Volume 21 (4): 14 – Sep 30, 2014

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1359-0790
DOI
10.1108/JFC-05-2013-0039
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper mainly is to examine the relevant rules concerning documentary letter of credit (L/C) fraud under criminal law in England and China. Design/methodology/approach – The paper analyses the regulations about such crime and relevant literature. Findings – The similarities and differences of such rules have been identified briefly. L/C fraud is considered a conduct crime; and unspecific or vague provisions concerning this crime may cause difficulties of application in judicial practice in both England and China. But the possible punishment for L/C fraud criminals under Chinese criminal law seems more severe than that under English law. Dealing with L/C fraud in international trade under national criminal laws is not effective. Regional and international efforts on legal assistance in cross-border criminal cases still remain to be improved. Research limitations/implications – The limitation is that it examines merely relevant substantial rules in legislation. This opens the paths to future research on the approach towards L/C fraud demonstrated in court cases in England and in China. Social implications – The research underlies the need to take serious attitude and make more effective efforts towards cross-border criminal cases, although different countries may have different rules concerning specific economic crimes. Originality/value – This paper fills the gap of a comparative study on how L/C is regulated under criminal law regime in England and China.

Journal

Journal of Financial CrimeEmerald Publishing

Published: Sep 30, 2014

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