It is not illegal to repay on behalf of others. However, the credit card pad also involves repayment, which is brushed out in the form of cash. However, in the recently issued Interpretation on Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases of Impairment of Credit Card Management, it is clearly stipulated that cashing out is illegal.

The Interpretation also stipulates: "In violation of state regulations, cash is paid directly to credit card holders by means of fictitious transactions, false pricing, cash return, etc. by means of point-of-sale terminal equipment (POS machines). If the circumstances are serious, it shall be punished for the crime of illegal business operation in accordance with the provisions of Article 225 of the Criminal Law. "

The essential feature of credit card cashing is to directly convert the credit limit in credit card into cashing through deception. Cash-out funds are out of the normal credit management channels of banks and the management sight and control of regulatory authorities, which seriously undermines the management order of China's financial market and lays an unstable factor for the overall financial order of the country.

Extended information: the essential feature of credit card cashing is to convert the credit limit of credit card into cashing through deception. Cash-out merchants collude with cardholders to make false transactions with credit cards, which is actually an act of disturbing and violating financial order.

Previously, due to the lack of a clear legal basis, the relevant departments could only take back POS machines, stop trading and other soft penalties for cash-out businesses, making it difficult to effectively curb the spread of cash-out from the source. According to statistics, in 2009, China UnionPay alone helped to confirm nearly 30,000 cash-out cases, amounting to several billion yuan.

At the same time, the explanation stipulates that if the amount is more than 6,543,800 yuan, or the funds of financial institutions are overdue by more than 200,000 yuan, or the economic losses of financial institutions are more than 6,543,800 yuan, it should be considered as "serious circumstances". According to the relevant provisions of the criminal law, it can be "sentenced to fixed-term imprisonment of not more than five years or criminal detention, and a fine of not less than one time but not more than five times the illegal income".

For "the circumstances are particularly serious", okay? "For more than five years, and impose a fine of not less than one time but not more than five times the illegal income or confiscation of property".

Baidu Encyclopedia-Credit Card Fraud Baidu Encyclopedia-Credit Card Cash Out