Legal analysis
Individuals or units specializing in cashing out credit cards are suspected of illegal business operations. Pay cash directly to credit card holders by means of fictitious transactions, false pricing, cash return, etc. by means of POS machines. And the cash amount is more than 6,543,800 yuan, or the financial institution's funds are overdue by more than 200,000 yuan, or the financial institution's economic loss is more than 6,543,800 yuan, which constitutes the crime of illegal business operation. Credit cashing itself is an illegal act. It does not constitute a crime for the cardholder to cash out within the limit and repay on time. If it is maliciously cashed out, it may be suspected of credit card fraud. According to the relevant laws and regulations, if the cardholder cashes in more than 6,543,800 yuan, resulting in one of the following consequences, he shall be investigated for criminal responsibility for the crime of credit card fraud: (1) knowing that he has no repayment ability and overdraws a lot and cannot return it; (two) squandering overdraft funds, unable to return; (3) Escaping after overdraft, changing contact information and avoiding bank collection; (4) evading or transferring funds, concealing property or evading repayment; (five) the use of overdraft funds for illegal and criminal activities. Cash is paid directly to credit card holders by means of fictitious transactions, false prices, cash return, etc. by means of point-of-sale terminals (POS machines). If the circumstances are serious, he shall be convicted and punished for the crime of illegal business operation in accordance with relevant laws and regulations.
legal ground
Criminal law of the people's Republic of China
Article 196 Whoever commits credit card fraud under any of the following circumstances, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; If the amount is especially huge or there are other particularly serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan, or his property shall be confiscated: (1) using a forged credit card or using a credit card fraudulently obtained with false identification; (2) Using an invalid credit card; (3) Fraudulent use of another person's credit card; (4) malicious overdraft. The term "malicious overdraft" as mentioned in the preceding paragraph refers to the behavior that the cardholder overdraws beyond the prescribed limit or time limit for the purpose of illegal possession, and refuses to return it after being urged by the issuing bank. Whoever steals a credit card and uses it shall be convicted and punished in accordance with the provisions of Article 264 of this Law.