Crime and crisis in China’s P2P online lending market: a comparative analysis of fraud

Abstract White-collar criminality continues to be a significant issue in countries with differing levels of economic development. This paper provides comparative analysis white-collar crime and crises through an examination the recent peer-to-peer (P2P) online lending crash China. It considers criminological findings from major United States light China’s P2P market failure lens theory research. The show that fraud was main contributor various structural factors facilitated financial crimes caused collapse market. study indicates that, similar U.S. experience, crime-facilitative environments allowed for endemic industry. suggests primarily reactive approach is less effective than proactive system compliance includes more comprehensive transparent regulation law enforcement.