Online loans are also becoming a trend. With the advantage of the Internet, all the steps of loan application can be completed without leaving home, including understanding the application conditions of various loans, preparing application materials and submitting loan applications, which can be completed efficiently on the Internet.

The virtual nature of online loan transactions leads to the inability to authenticate the credit status of both borrowers and borrowers, which is prone to fraud and default disputes of non-repayment.

If the online loan is issued on behalf of the online platform, then if the online platform neglects self-discipline, or the internal control procedure fails, or is used by others, there may be cases of fabricating loan information and illegally raising funds.

A large amount of lender information published by online platforms is mostly in the name of "loan company" and "financing company". In fact, financial institutions must be approved by the state to engage in financial services such as credit financing. Those who engage in financial activities without authorization are often punished for "illegal fund-raising", "illegal absorption of public deposits" and disturbing the order of financial management.