The purpose of illegal possession should be judged according to the cardholder's credit history, repayment ability and willingness, the application and overdraft of credit cards, the use of overdraft funds, the performance after overdraft, and the reasons for not repaying according to regulations. It is not allowed to identify the purpose of illegal possession just because the cardholder fails to repay the loan according to the regulations.
Is it illegal for someone else to cash out 20 thousand with my POS machine? What responsibility should I take?
Credit card cashing has increased the instability of China's financial order. China has a strict access system for financial institutions and a series of strict regulations to monitor the inflow and outflow of funds from financial institutions. Those lawless elements and merchants, who swipe their cards through virtual machines and engage in false transactions such as cash withdrawal by credit cards in disguise, are outside the legal framework and violate the state's legal provisions on financial business franchising. It deviates from the relevant regulations of the People's Bank of China on cash management, and may also provide convenient conditions for illegal activities such as "money laundering", which undoubtedly lays an unstable factor for China's overall financial order. In addition, the increase of bank risks and the formation of a large number of non-performing loans will also destroy the social credit environment and hinder the healthy development of the credit card industry. Secondly, the harm of illegal cash withdrawal to the issuing bank is enormous. Most credit cards are unsecured lending instruments. As long as the cardholder makes a consumption, the bank will bear the repayment risk. Therefore, in general, banks guard against overdraft risk through high overdraft interest or cash withdrawal fees. The act of cashing in credit cards just circumvents the high cash withdrawal fee set by banks and crosses the bank's prevention threshold. In particular, some loan intermediaries help cardholders forge identity materials and constantly increase the credit card quota, which greatly interferes with the normal business of banks and brings great risks. Because of holding a large amount of cash, the cardholder is tantamount to obtaining an interest-free and unsecured personal loan. However, the issuing bank cannot know the purpose of these funds, and it is difficult to identify and track them effectively. In fact, the credit risk of credit card has evolved into the credit risk of investment or speculation. Once the cardholder can't repay the cash amount, the bank loses not only the loan interest, but also a lot of assets.
Legal basis: Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases of Impairment of Credit Card Management Article 6 If a cardholder overdraws beyond the prescribed limit or time limit for the purpose of illegal possession, and fails to return it for more than three months after two effective reminders by the issuing bank, it shall be deemed as "malicious overdraft" as stipulated in Article 196 of the Criminal Law.