AHP-Based Online Lending Platform Industry Development Risk

Evaluation and Legal Regulation

Hechao Lou

College of Law and Political Science, Zhejiang Normal University, Jinhua, China

Law School, Jiangxi University of Finance and Economics, Nanchang, China

Keywords: Analytic Hierarchy Process, Online Lending Platformer, Risk Assessment, Legal Regulation.

Abstract: The rise of online lending platform industry has become an important form of Internet financial model, but

its own development is often affected by many factors. There are still some risks. Through the quantitative

analysis of the influencing factors, we can accurately predict the risk proportion in the development process

of online lending platform industry and provide targeted prevention and control countermeasures. With the

help of AHP, this paper quantitatively evaluates the relevant factors of the development of online lending

platform industry by combining qualitative and quantitative methods, and constructs the risk evaluation index

system for the development of online lending platform. The results show that the positioning, guidance and

regulation of laws and regulations play a key role in the operation of online lending platform and the

development process of the whole industry. From this point of view, the paper puts forward the compliance

decision-making suggestions from the perspective of legal regulation, in order to provide reference for the

healthy development of the online lending platform industry.

1 INTRODUCTION

The development of new generation information

technology has fundamentally changed many

traditional lending models. The online lending

platform model based on peer-to-peer has become a

new organizational form in the development of

financial industry. The operation of online lending

platform depends on the Internet, the whole lending

process takes place between the Internet, and the

application materials and contract processing are

completed online. The online lending platform can

collect funds through its own financing and other

forms to lend to individuals, or as an intermediary

platform to provide greater loan information support

for individuals or small and medium-sized enterprises.

In addition, there are credit transfer mode, large

enterprise network service platform mode and

comprehensive transaction mode based on

parameters. Compared with the traditional bank

lending business model, most enterprises in the online

lending platform industry are private, which is a new

financial model of private financing and lending under

the birth of Internet technology. However, there are

relatively high risks in the development of the online

lending platform industry, and the platform will

spread some of the risk to their users. In 2019 alone,

there will be 732 platforms out of the industry,

including 222 problem platforms.

The online lending platform is a financial

transaction that bypasses the traditional intermediary

by directly connecting the borrower and the lender,

which makes the legal position of the platform itself

vague. There is no consensus on whether it is an

internet financial service website, an intermediary

trading institution, a financial lending enterprise, or a

kind of Inclusive Finance, there is no clear explanation

on laws and regulations. However, as an emerging

Internet financial model, the development of online

lending platform industry has been concerned and

studied by many scholars. At present, scholars at home

and abroad mainly analyze the development trend of

online lending platform industry from a qualitative

perspective, so as to make risk assessment and

regulatory recommendations. For example, Professor

Tandja Jorgensen of Aarhus University said: "some

financial regulators believe that the online lending

platform is not a credit intermediary, but actually a

financial institution created by investors, which needs

to be licensed as a bank (Tanja, 2018)

Dr. Williams

Warren, from Duke University Law School, pointed

out that the financial regulatory authorities in the UK

and the United States are constantly trying to build all-

round systematic regulatory measures to improve the

Lou, H.

AHP-based Online Lending Platform Industry Development Risk Evaluation and Legal Regulation.

DOI: 10.5220/0011720000003607

In Proceedings of the 1st International Conference on Public Management, Digital Economy and Internet Technology (ICPDI 2022), pages 18-25

ISBN: 978-989-758-620-0

 2023 by SCITEPRESS – Science and Technology Publications, Lda. Under CC license (CC BY-NC-ND 4.0)

existing laws and regulations based on the overall

development model of the online lending platform

industry (William, 2016). Some domestic scholars in

the financial field analyze risks directly from the

perspective of supervision and control, or expose risks

from daily operation practices and the platform's own

operation mode, while some scholars take the

supervision experience of British and American

countries as enlightenment to explore risk avoidance.

Many domestic scholars in the field of law mostly start

from the perspective of legal meaning, or make

qualitative analysis on the shortcomings of existing

laws and regulations together with relevant actual

cases. It can be seen that the empirical research on the

risk evaluation of the development of online lending

platform industry by combining qualitative and

quantitative research is still slightly insufficient. The

multi-dimensional index system construction and

quantitative risk assessment research based on the

system can not only combine qualitative and

quantitative parameters, but also make statistical

decision-making prediction more accurately through

matrix and quantitative test. Effective regulation of

online lending platforms and timely early warning of

problems are of great and urgent significance for

investors and government regulators (CHEN, 2017).

Based on the risk assessment method of AHP, this

paper constructs the risk assessment index system for

the development of online lending platform from the

six primary index dimensions of financial market risk,

platform own risk, trust crisis risk, data security risk,

network operation risk and laws and regulations risk,

and quantitatively analyzes the index weights at all

levels, Carry out qualitative and quantitative analysis

on the main risks of the development of the online

lending platform industry, and then combined with

relevant laws, regulations and theoretical knowledge,

put forward regulatory suggestions for the

development of the industry, in order to promote the

development of the online lending platform industry

in a good business rule of law and financial

environment.

2 ANALYSIS OF THE FACTORS

AFFECTING THE

DEVELOPMENT OF THE

ONLINE LENDING PLATFORM

INDUSTRY

2.1 Financial Market Risks

Changes in the market will affect the changes in the

development of the industry. Today, there are many

factions in the development of the online lending

platform industry. Although the private sector is the

main, the development of online lending platforms of

banking, state-owned assets, listing and venture

capital is also very rapid. The main reason is to seize

the available resources in the era of network finance.

Especially the changes of real estate financial market,

consumer financial market and supply chain financial

market can bring huge business visits to the

development of online lending platform. Moreover, a

large number of capital supply and transactions will

involve the issue of financing changes. The

development of some online lending platforms is

established in the form of social financing, and users

also use online lending platforms for financing. Since

2018, the average financing cost of online lending has

been 21%, which is a heavy cost burden for the

development of the platform itself. Moreover, with the

shrinking loan balance since 2019, the month on

month decline of transactions, industrial interest rate

disputes, tight monetary policy, exchange rate

fluctuation and other reasons, the investment

recognition has been further reduced. The default risk

rate, liquidity risk rate and term risk rate increased

significantly, and the average rate of return declined,

which also made the development of the whole

industry fall into a relatively low stage.

2.2 Platform's Own Risks

The problems of the platform itself have gradually

become one of the factors restricting its development,

and even some of them are in the decline. Since 2019,

the number of problem platforms has reached more

than 200. Nearly 40% of the platforms have been

closed directly because the network base stations are

not maintained. These closed platforms themselves

are relatively small and lack brand awareness. In

addition, the overdue operation of the online lending

platform is one of its common self risks, which refers

to the situation that the borrower cannot repay the

specified account of the platform on schedule. There

are subjective overdue caused by malicious evasion of

debt, and there are objective overdue caused by

uncontrollable force. The occurrence of overdue

directly leads to the problem that the payment cannot

be realized at maturity. With high overdue rate and

large bad debt base, it is a fatal blow to those self

financing platforms and platforms lacking capital

chain support, which will directly lead to the dilemma

of cash withdrawal, and some platforms will even

choose to run directly. For the development of many

platforms, there will be a critical point to try to

AHP-based Online Lending Platform Industry Development Risk Evaluation and Legal Regulation

establish or operate in violation of laws and

regulations. The public security economic

investigation organ will also intervene directly or in

advance in the investigation according to the actual

situation. The platform during the investigation period

cannot operate and will be suspended due to long-term

investigation.

2.3 Trust Crisis Risk

A large part of the risk of trust crisis is the continuation

or appearance of the risk problems of the platform

itself. Default risk, fund-raising fraud and illegal

absorption of public funds are the three most common

forms. Due to high overdue rate, large bad debt base

and delayed payment, the risk of default will be

greatly triggered. At this stage, there are many online

lending platforms in the form of financial media. In

essence, they are a kind of credit intermediary, which

provides borrowing customers with corresponding

borrowing channels and the choice of guarantee mode,

and do not lend themselves. This also leads to the

situation that some platforms blind credit intermediary

in order to expand their own financial information

service customers, increasing the risk rate of default.

Some "self financing" platforms or creditor's rights

transfer mode platforms are prone to damage to the

balance coefficient when the two sides of creditor's

rights and debts are connected. The transfer of

creditor's rights is actually greater than the loan

amount, and the transfer of non-existent creditor's

rights is equal to the loan amount, which belongs to

the category of illegal fund-raising. The situation with

more fund-raising scams is similar to the pyramid

scam, which uses the new funds of investors to pay the

previous interest and short-term return, so as to create

the illusion of higher rate of return, and then cheat

more capital investment. Illegal absorption of public

funds is also a common behavior in the field of online

lending. When some platforms act as intermediaries,

they actually conduct self financing in disguise in the

name of intermediary financial information services to

collect funds indirectly or directly. Collusion in illegal

lending, collusion in illegal splitting of financing

projects and borrowers' deliberate concealment of

facts will lead to illegal absorption of public funds. It

is very important to reduce credit risk and promote the

healthy development of online lending services.

2.4 Data Security Risks

Based on the development of Internet technology,

online lending, as a new form of network finance, is

rapidly popular, but the virtual space of the network

and the privacy of data information also pose

challenges to the data security of the platform. Data

information asymmetry is one of the difficulties that

need to be overcome in today's platform. Taking the

intermediary online lending platform as an example,

as the medium for lending data information release, in

addition to the necessary basic data information of the

lender, borrower and guarantor, it is also necessary to

review the data information source of the borrower.

However, some platforms often ignore the audit of

data information for the sake of service performance,

and the borrowers with poor qualifications appear.

Due to the imperfection of the current credit

information system and the concealment of network

data information, it is very easy to cause data

information asymmetry due to negligence. As a result,

a large number of borrowers with bad qualifications

are involved in adverse selection events. Because the

lenders and guarantors are at the disadvantage of data

information acquisition, they can only lend according

to the average quality. On the contrary, the borrowers

with good credit qualifications can not get funds, and

the overall operation efficiency of online lending

drops sharply. Data tampering and data embezzlement

are common in self financing platform, and there are

also behaviors of constructing false fund pool and

distributing false data. In order to self finance or

collect funds in disguise, some platforms will tamper

with and misappropriate the data of lenders, borrowers

and Guarantors in order to achieve the collection of

their own funds or income from improper interests.

Relevant legislative departments must constantly

update the latest technological progress related to data

flow mechanism, so as to effectively combat any

adverse situation and avoid all kinds of cyber crimes

caused by data security risks. In compliance with the

necessary privacy policies, collect, store and process

data, and pay attention to the cultivation of self

transaction security awareness of users using data

(Chatterjee, 2019).

2.5 Network Operation Risk

Websites, apps or cloud platforms are common

network lending platform models. The emergence of

system vulnerabilities, attacks from the network and

the lack of technology will affect the operation. There

are design defects in the development and operation of

program and operating system, which is also a kind of

system security defects. It is very easy for criminals to

use the loopholes of the platform system itself to

obtain improper interests, or directly crawl user

related data and information. Peers may also take

advantage of the system vulnerability of the platform

ICPDI 2022 - International Conference on Public Management, Digital Economy and Internet Technology

to carry out malicious attacks and destruction, making

it unable to operate normally and lose

competitiveness. Network attacks through system

vulnerabilities also occur frequently, and the network

lending platform has become a disaster area subjected

to network attacks in recent years. Hacker intrusion,

virus Trojan attack, coupled with the lack of technical

support, the harm of user data leakage, the spread of

bad and false financial information and the threat of

mobile finance has become increasingly prominent. It

is urgent to strengthen the ability of network security

prevention and improve the overall environment of

network security (Guo, 2020).

2.6 Risks of Laws and Regulations

Due to the lack of guidance of necessary laws and

regulations in the early development stage of online

lending platform, there are many forms of platform

and some non-conforming operations. Nowadays,

there are not only pure information intermediary mode

of auction loan, but also bank system platform

combining creditor's rights transfer, online and offline

synchronous lending website, guarantee company or

fund backstage as the operation platform, and some

platforms are lending platforms developed by

enterprises with special nature of Inclusive Finance

and services. There is no time for the law to

characterize the instantaneous emergence of many

online lending platform models one by one. The

operation of platform non-compliance will also touch

the boundary of violation of laws and regulations. The

penalty conditions of default risk, fund-raising fraud,

illegal absorption of public funds to the criminal law

regulation need to be strictly regulated according to

law. However, there are still some deficiencies in the

legal regulation of the behaviors that do not meet the

criminal standards but do not comply with the law. In

addition, changes in laws or policies, such as changes

in laws and local policies, will also affect the

development of the platform. For example, policy

support for local business environment and state

support for Inclusive Finance will help to stimulate the

development of online lending platform; For example,

tightened monetary policy, strict financial market

supervision and punishment regulations will bring

restrictions to the development of the platform to a

certain extent.

3 CONSTRUCTION OF A RISK

EVALUATION INDEX SYSTEM

FOR THE DEVELOPMENT OF

THE ONLINE LENDING

PLATFORM INDUSTRY

3.1 Concrete Construction of Risk

Evaluation Index System

After consulting the professional reports in relevant

fields such as the development report of the online

lending industry and the financial market operation

and environment report, and drawing on the relevant

results of the risk evaluation research of the online

lending industry at home and abroad, a risk evaluation

index system of the online lending industry with 6

primary indicators and 20 secondary indicators is

constructed, as shown in Table 1. Then, combined

with the questionnaire scoring opinions of relevant

experts in the field, the scoring data is judged by

matrix, and the corresponding index weight is

established.

Table 1 Risk evaluation index system of online lending

platform industry development.

First-level

indicators

Second-level indicators

Financial

market risk

Market changes B1

Financing changes B2

Exchange rate changes B3

Interest rate change B4

Platform's

own risk

website closure B5

Overdue payment B6

Economic investigation intervention B7

Cash withdrawal difficulty B8

Self running B9

Trust crisis

risk

Fund-raising fraud B10

Default risk B11

Illegal absorption of public funds B12

Data

security risk

Data information asymmetry B13

Data tampering B14

Data embezzlement B15

Network

operation

risk

System flaw B16

Network attack B17

Technology deficiency B18

Legal and

regulatory

risks

Lack of relevant laws and regulations B19

Changes of laws and regulations B20

AHP-based Online Lending Platform Industry Development Risk Evaluation and Legal Regulation

3.2 Analysis of Specific Secondary

Indicators

• Market changes, financing changes, exchange rate

changes and interest rate changes. These four

indicators specifically cover the primary indicators of

financial market risk and reflect the changes of the

external financial environment affecting the online

lending platform industry, especially the changes in

the average financing cost. The higher the proportion,

the heavier the burden of the platform's own

development. Avoid combining SI and CGS units,

such as current in amperes and magnetic field in

oersteds. This often leads to confusion because

equations do not balance dimensionally. If you must

use mixed units, clearly state the units for each

quantity that you use in an equation.

• Fund raising fraud, default risk and illegal

absorption of public funds are the main risk

manifestations causing the trust crisis. The increase of

trust risk will directly lead to a sharp decrease in the

access and use of investors and customers, and further

aggravate people's distrust of the online lending

platform itself, thus affecting its orderly construction

and the overall development of the industry itself.

• The three indicators of data information

asymmetry, data tampering and data embezzlement

directly reflect the challenges faced by the online

lending platform as a new Internet financial model in

terms of data security.

• System vulnerabilities, network attacks and

technical deficiencies. These three indicators are a

comprehensive assessment of the application building

of the network lending platform, software design

technology, operating system defects and the security

of the overall network environment.

• The lack of relevant laws and regulations and

the change of laws and regulations are based on the

compliance consideration of the development of the

online lending platform industry. Correct regulatory

guidance and necessary regulatory means can greatly

promote the healthy and compliant development of the

industry to a certain extent.

3.3 Quantitative Evaluation of the

Development of the Online Lending

Platform Industry

AHP analytic hierarchy process is used to

quantitatively evaluate the development risk of online

lending platform industry. According to the analysis

of the nature of the platform risk problem, AHP

decomposes the problem into several sets of elements,

quantifies the correlation and subordinate relationship

between the elements, and aggregates at different

levels to form a multi-level analysis framework

model, so as to give the weight to the problem

hierarchically and arrange the advantages and

disadvantages of the decision according to the ranking

of the weight. The main calculation steps of AHP are

as follows:

• Establish a hierarchical structure model to

layer the objectives, criteria and objects of decision-

making according to the relationship between them.

• Construct the judgment matrix. When

determining the weight of each factor at each level, it

is unacceptable to conduct only qualitative analysis.

Therefore, it is necessary to add quantitative analysis

to the qualitative analysis, compare different factors in

pairs, and evaluate the level according to their

importance. For example, AIJ is expressed as the

comparison result of the importance of factor I and

factor J.

• Find the maximum eigenvalue of the matrix

and the corresponding eigenvector, and normalize the

eigenvector. The value of the corresponding position

of the normalized eigenvector is the weight value of

the corresponding factor. This process is called

hierarchical single ranking. As for whether the

hierarchical single ranking can be confirmed, it is also

necessary to check the consistency of the matrix.

∏

(i=1, 2, 3...n) (1)

Calculate the n-th root of the product of elements

in each row of the judgment matrix. In the equation:

bij is the element in the judgment matrix; n is the order

of judgment matrix; Is the n-th power root of the

product of the i-th row element of the judgment

matrix.

, …,

)

integrating the

weight vectors.



(2)

It is the eigenvector of the obtained judgment

matrix, that is, the index weight.



max

(3)

ICPDI 2022 - International Conference on Public Management, Digital Economy and Internet Technology

Calculate the maximum eigenvalue of the

judgment matrix λmax. In the equation:Ｂi is the i-th

row vector of the judgment matrix.

3.4 Calculate the Consistency Index

(CI) of the Judgment Matrix and

Test Its Consistency

Consistency test is to determine the allowable range of

inconsistency for the matrix, in which the only non-

zero eigenvalue of the n-order uniform matrix is the

maximum eigenvalue of the n-order positive

reciprocal matrix λ Greater than or equal to n if and

only if λ When equal to N, the matrix is a consistent

matrix. The consistency test of the matrix can be

measured by the consistency index CI.

1-n

max

=CI

(4)

When the CI is equal to 0, it indicates complete

consistency. The closer the CI is to 0, the better the

consistency is. If the CI is larger, the more serious the

inconsistency is. In order to measure the size of Ci, the

random consistency index RI is introduced.

Considering the possible deviation of consistency due

to random reasons, when checking whether the matrix

meets the consistency, it is also necessary to compare

CI with the random consistency index RI to obtain the

test coefficient CR,

, If

0.1CR <

It is

considered that the matrix has passed the consistency

test, otherwise it does not meet the consistency test.

4 RESEARCH CONCLUSION

In the quantitative results of primary indicators, the

weights of laws and regulations risk (w = 0.4174),

trust crisis risk (w = 0.2853), platform own risk (w =

0.0953), data security risk (w = 0.0864), network

operation risk (w = 0.0745) and financial market risk

(w = 0.0411) decreased successively, among which

the highest weight is laws and regulations risk, and its

weight is much higher than that of other indicators.

Shen Yan, the current development of the online

lending platform industry is inseparable from the

relevant guidelines of laws and regulations.

Specifically, from the quantitative results of the

risk judgment matrix of laws and regulations, the lack

of relevant laws and regulations has become a key

factor deeply affecting the overall development trend

of the online lending platform industry. The lack of

relevant laws and regulations may lead to the

ambiguity of the legal nature of the platform, and

make the whole industry fall into the existence

between legality and illegality. Secondly, there are

certain legal risks in the operation of the platform. Non

compliant business models often touch the boundary

of the law and become the source of crimes. In

addition, the changes and changes of laws and

regulations bring compliance guidance or regulation

to the development of the platform on the basis of

relative certainty, and they are also the key factors

affecting the trend of the industry.

In the quantitative results of secondary indicators,

the weight of these six secondary indicators is

relatively large compared with other similar

indicators, such as lack of relevant laws and

regulations (w = 0.6667), asymmetric data

information (w = 0.539), default risk (w = 0.4905),

cyber attack (w = 0.4111), website closure (w =

0.3844) and financing change (w = 0.3403), And there

is a certain correlation between the secondary

indicators. The illegal self financing and the rupture of

the capital chain have greatly increased the risk of

default. In addition, some platforms have their own

non-conforming operations, exposing the problem of

data information asymmetry. Coupled with the

intrusion of network attacks, the shutdown of platform

websites has become a major risk factor restricting

their own development.

To sum up, the positioning, guidance and

regulation of laws and regulations play a vital role in

the operation of online lending platform and the

development of the whole industry. This conclusion is

also mutually confirmed with the analysis in the

quantitative results of primary indicators.

5 SUGGESTIONS ON THE

LEGAL REGULATION OF THE

DEVELOPMENT OF THE

ONLINE LENDING PLATFORM

INDUSTRY

The development of the online lending industry is still

relatively young, and the operation mode and process

are not mature. The previous blowout platform growth

has also brought many risk problems. However, as an

important form of Internet financial development, the

advantages of online lending platform are also

obvious. Digital innovation has opened up new market

possibilities for the development of non-traditional

participants and online finance. The online lending

platform spawned by digital innovation also plays a

great supporting role in stimulating consumer lending,

AHP-based Online Lending Platform Industry Development Risk Evaluation and Legal Regulation

creating new sources of return on investment interest

rates, Inclusive Finance and industry support. As a

financial intermediary, online lending platform can

become a superior organizational form of economic

development on the basis of equivalence, but it will be

accompanied by different risks in its industry

development. AHP can intuitively reflect that the

guidance and governance of laws and regulations is an

indispensable key link in the development of the

industry. Therefore, it is suggested to put forward

compliance decisions on the development of online

lending platform industry from the perspective of

legal regulation.

5.1 Clarify the Legal Positioning of

Online Lending Platforms, and

Strictly Enforce Market Access

The continuous increase of the development risk of the

online lending platform industry is closely related to

the lack of legal positioning and strict market access

principles of the online lending platform. It is not

enough to understand what is an online lending

platform as an expression of an internet financial

model, which needs a clear legal interpretation and

positioning. Nowadays, there are many factional

sources of online lending platforms, resulting in many

forms, such as financial intermediary mode, creditor's

right transfer mode, online and offline comprehensive

marketing platform mode and so on. We should try to

define it from the existing civil law, commercial law,

economic law and other departmental law fields - we

can clearly define the online lending platform as a

platform for providing financial intermediary

information, which itself does not involve financing

and lending. Special creditor's rights transfer mode,

online and offline comprehensive marketing platform

mode and enterprise platform mode are allowed, but

they need to be considered from the perspective of

enterprises, regulated in accordance with the relevant

company law, and distinguished from general online

lending platforms by referring to the establishment

forms of small loan companies, subsidiaries and

branches. At the same time, strict market access shall

be implemented for the establishment of online

lending platforms, which must meet the industry and

market standard rules of relevant operations, improve

their access threshold, and establish different market

access principles for general online lending platforms

and special online lending platforms. With the

maturity of the financial industry, if the regulatory

issues are solved, generally speaking, the impact of

loan behavior in the market on the financial system

and economy will be more obvious (David, 2018).

While rectifying the chaos of platform development

through the limitation of legal positioning and market

access principles, it is also convenient for unified

supervision, which is more conducive to concentrating

high-quality resources to create an excellent financial

service platform, so that the form of Inclusive Finance

can also be carried out in accordance with regulations.

5.2 Establishing or Improving

Specialized Laws and Regulations,

Coexisting Incentives and Guidance

At present, there are no laws and regulations

specifically regulating the development of Internet

finance industry or online lending platform industry.

We can try to establish or improve special laws and

regulations on the basis of the existing financial law,

bill law, commercial bank law and guarantee law, and

implement the guiding ideology of the coexistence of

incentive and guidance. Provide policy incentives or

preferential policies to promote the sound

development of the industry, and guide and regulate

its business scope, financial information release, user

data review, industry interest rate control, etc. by laws

and regulations. Prevent illegal self financing, illegal

absorption of public funds and fund-raising fraud,

bring these risks under the monitoring of laws and

regulations in advance, ensure the stability of the

development of industry subjects, and play a

supervisory role to a certain extent. It not only gives

the online lending platform the relevant right to self-

development, but also reminds it to abide by laws and

industry norms, Reduce platform shutdown caused by

improper behavior. Timely investigate and deal with

illegal operations or improper network operations

such as the establishment of false capital pool, the

release of false financial information, the falsification

of customer lending data information, the failure to

disclose information in time and the failure to perform

the obligation of prudent review. On the premise of

grasping the scale of macro-control, we should tap the

market potential of the development of the industry

itself, promote the online lending platform to

strengthen the awareness of standardized operation

and industry self-discipline, and guide investors to

rationally balance capital returns and risks.

5.3 Give Full Play to the

Complementary Role of Criminal

Law to Crack down on Crimes in

Platform Development

During the operation of some platforms, there are acts

beyond the legal boundaries, even criminal acts,

ICPDI 2022 - International Conference on Public Management, Digital Economy and Internet Technology

which need to play a supplementary role of criminal

law to combat crimes in the process of platform

development. Such crimes include crimes in the

establishment and operation of the platform itself,

such as the illegal absorption of public deposits by the

online lending platform to meet the conviction

standard, the fund-raising fraud with the purpose of

illegal possession and a large amount, and the

provision of money laundering services for funds of

unknown origin, which can violate the relevant

provisions of the criminal law and are suspected of

criminal crimes. In addition, the destruction of the

platform by using Internet technology is also the focus

of regulation. The illegal and criminal acts of

deliberately destroying the opponent's operation

platform, stealing the other party's trade secrets and

user data information, and illegal network attacks by

using system vulnerabilities may be suspected of the

crime of destroying computer information system,

illegally obtaining computer information system data

and illegally controlling computer information

system, which need to be regulated by relevant

criminal laws. Cracking down on the illegal and

criminal acts of destroying the platform provides strict

legal guarantee for the development of the online

lending platform, and punishes the illegal and criminal

acts of the platform itself, which is conducive to

eliminating the development environment of the

whole platform industry.

6 CONCLUSION

The development of online lending platform industry

is an important part of Internet financial innovation.

The overall development trend of the platform is still

relatively clear and the market potential is large.

Diversified platform models and multi-channel

factional support tend to lower the threshold for the

development of online lending platforms. While

activating the financial market and reducing

transaction costs, it is also accompanied by the

development risks of many industries. This paper uses

analytic hierarchy process to construct a risk

evaluation index system for evaluating the

development of online lending platform from the six

primary index dimensions of financial market risk,

platform own risk, trust crisis risk, data security risk,

network operation risk and laws and regulations risk,

and carries out a qualitative and quantitative legal

regulation analysis according to the quantitative

analysis of weight. The paper puts forward decision-

making suggestions such as clarifying the legal

positioning of the online lending platform,

establishing or improving specialized laws and

regulations, and giving full play to the supplementary

role of criminal regulations.

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