金融科技發展下違法吸金犯罪之研究

詐欺罪、違反銀行法第125條及違反多層次傳銷管理法第29條等違法吸金犯罪，均為實務上認定之重大經濟犯罪，而經濟犯罪對國家整體經濟及金融秩序造成之危害既廣且深，與內線交易、掏空公司資產等重大經濟犯罪案件相較，違法吸金犯罪之影響不僅在於金額龐大，且受害人數眾多，並常為社會之中低產階級，因而引發不少社會問題。臺灣於1980年最早出現鴻源集團等地下投資公司，違法吸金近新臺幣962億元，且當時大多係退休軍公教人員及一般市井小民將畢生積蓄投入，致造成極大的社會動盪。網路的發達，使金融體系的服務開始朝向數位化發展，但2008年全球金融危機後，金融體系若非崩解便係轉型，倖存之金融機構對資本的要求必須提高、對客戶之放款審核也更趨嚴格，嚴重影響中小企業和個人對資金之需求，因此包含P2P線上借貸平台、群眾募資、加密貨幣及ICO等創新金融科技即應運而生，並風行於全球各地，而不法分子遂開始利用金融科技作為媒介違法吸金，令為數不少之高知識分子亦遭誘惑加入而成為受害者。由於違法吸金手法極為多樣化，或假藉多層次傳銷為名，並未有實際商品銷售，參加人所取得佣金、獎金或其他經濟利益，主要係基於介紹他人加入，而涉嫌違反多層次傳銷管理法；或以借款、投資等為名，固定給予顯不相當高利之違反銀行法案件；亦有「假投資、真吸金」，以詐術使人陷於錯誤，吸引他人參與投資，實際上卻將吸收資金納為個人所有而涉嫌詐欺之案件。近來，隨著金融科技的發展，利用金融科技之新興違法吸金案件不斷出現，舉例而言，2019年出現「IRS國際儲備集團」以加密貨幣比特幣違法吸金15億元。以上各類吸金案件，有時只違反單一的刑事法律；有時同時違反不同法律而產生法律競合的問題；有時看似同時違反不同法律，但在實務上認定並無法律競合問題，而只違反單一刑事法律。由於適用不同法律其刑責輕重不一，則如何適用法律顯得相當重要；此外，在金融科技發展下，部分國家針對金融科技之發展，已訂立專法或命令規範；部分國家則完全未予規範，則在不同國際法制因應下，是否得以因應金融科技所衍生之新興吸金犯罪，亦為值得研究之課題。

關鍵字

違法吸金；違法多層次傳銷；違反銀行法；詐券詐欺； P2P線上借貸；群眾募資； ICO詐騙

並列摘要

Fraudulent crimes, violation of Article 125 of the Banking Act and violation of Article 29 of Multi-Level Marketing Supervision Act are all major economic crimes that have been found in practice. The harm caused by economic crimes to the country's overall economic and financial order is wide and deep. Compared with major economic crimes such as insider trading and hollowing out of the assets of the corporation, the impact of illegal fund-raising crimes is not only the large amount, but also causes many victims who are often the low-income class in society has caused many social problems. In 1980s, the first underground investment company, Hongyuan Group, illegally raised NT$96.2 billion. At that time, most of the retired military, public officials and common people had invested their entire lives, causing great social unrest. The development of the Internet has made the services of the financial system begin digitizing. However, after the global financial crisis in 2008, the financial system needed to be transformed if it did not collapse. The requirements of capital for surviving financial institutions must be increased, and the review of customer loans would be more stringent, seriously affecting the needs of small and medium-sized enterprises and individuals for funds, so innovative financial technologies including P2P online lending platforms, crowdfunding, cryptocurrencies and ICOs emerge at the historic moment, and become popular around the world. Starting to use financial technology as a tool to illegally raise fund, criminals make the high intellectuals be tempted to join and become victims. The illegal fund-raising is diversified, such as the pyramid scheme wihtout actual sales of goods which the commissions, bonuses or other economic benefits obtained by the participants are mainly based on the introduction of others is suspected violation of the Multi-Level Marketing Supervision Act, the ponzi scheme by using the name of borrowing, investment, etc., is a case of violation of The Banking Act which returns quite high-profit, and "fake investment, real illegal fund-raising " makes people fall into mistakes and participate in investment. Recently, with the development of FinTech, new illegal use of FinTech to raise fund has continuously emerged. For example, In the year of 2019, the "IRS International Reserve Group" illegally used the cryptocurrency bitcoin raised NT$1.5 billion. The above-mentioned various cases of illegal fund-raising, including an act constitutes an offenses, an act constitutes several offenses, and sometimes it seems that constitutes several offenses, but in practice, only constitutes an offenses, have the importance of distinction when applying different acts and suffering different penalties. In addition, under the development of FinTech, some countries have formulated special laws or order norms, but some countries have not regulated at all. Therefore, the different international legal systems could whether respond to the emerging illegal fund-raising crimes derived from FinTech or not is also a subject worth studying.