Documentary letter of credit fraud under criminal law regime in England and China. Issue 4 (29th August 2014)

• Record Type: Journal Article
• Authors: Zhang, Yanan
• Editors: Futter, Angela
• Is Part Of: Journal of financial crime. Volume 21:Issue 4(2014)
• Publication Date: 2014-08-29
• Subjects: Commercial crimes -- Periodicals; Commercial crimes -- Prevention -- Periodicals; Fraud -- Prevention -- Periodicals; Fraud -- Periodicals; White collar crimes -- Periodicals; 364.168
• DOI: 10.1108/JFC-05-2013-0039
• Languages: English
• ISSNs: 1359-0790

Abstract

Abstract : Purpose: The 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. Originality/value: This paper fills the gap of a comparative study on how documentary letter of credit fraud is regulated under criminal law regime in England and China.