In violation of state regulations, paying cash 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, he shall be convicted and punished for the crime of illegal business operation in accordance with the provisions of Article 225 of the Criminal Law. If the amount of the act mentioned in the preceding paragraph is more than 6,543.8+0,000 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 6,543.8+0,000 yuan, it shall be deemed as "serious circumstances" as stipulated in Article 225 of the Criminal Law; If the amount is more than 5 million yuan, or the funds of financial institutions are not returned more than 6.5438+0 million yuan within the time limit, or the economic losses of financial institutions are more than 500,000 yuan, it shall be deemed as "the circumstances are particularly serious" as stipulated in Article 225 of the Criminal Law.
According to the provisions of the above criminal law and judicial interpretation, the objective elements of the crime of cashing in a credit card illegally by using a POS machine include the following three contents: (1) violating the state regulations prohibiting cashing in a credit card by using a POS machine; (2) Using point-of-sale terminal equipment (POS machines) and other means to directly pay cash to credit card holders by fictitious transactions, false pricing, cash return, etc. ; (3) If the circumstances are serious enough to meet the standards of criminal law sanctions. These three contents completely constitute the objective aspects of the crime of illegal business operation, and all of them are indispensable, otherwise it will not constitute the crime of illegal business operation.
Moreover, it is illegal to cash out whether you use your own credit card or not. Specific explanation: 1, using your own credit card is not allowed by banks. 2. However, due to regulatory loopholes, if the frequency is less (less than 3 times) and the amount is less than 10000 yuan, the bank may not pursue it. At this time, cashing is also more than 0.5 of the handling fee.
Social harm of cash:
1. First of all, cashing in credit cards 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. 2. It deviates from the relevant regulations of the People's Bank of China on cash management, and may also provide convenient conditions for illegal acts such as "* *", 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.
3. 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.
4. In particular, some loan intermediaries help cardholders forge identity materials and constantly increase the credit card limit, 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 can't know the purpose of these funds, so 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.
6. Finally, for the cardholder personally, the credit card cashing behavior also brings great risks to himself. On the surface, cardholders get cash by cashing out, which reduces interest expenses, but in essence, cardholders need to repay after all.
7. If the cardholder can't repay the loan on time, he must bear the overdue repayment interest higher than the overdraft interest, which may cause a bad credit record. It will be very difficult to get a loan from the bank in the future, and even bear the legal risk of personal credit loss.