According to Article 266 of the Criminal Law of People's Republic of China (PRC), the crime of fraud refers to the act of fabricating facts or concealing the truth for the purpose of illegal possession, and defrauding a large amount of public or private property. The object of the crime of fraud is not to defraud other illegal interests. Its goal should also exclude loans from financial institutions. Because this law has specifically stipulated the crime of loan fraud in article 193.
Mr. Hu, the head teacher, took this class meeting as an opportunity to tell the students many cases about fraud, and then according to the cases, he introduced many things that we should pay attention to in society and their fraud methods.