Current location - Trademark Inquiry Complete Network - Overdue credit card - What does it mean to cash out by credit card? Is it illegal?
What does it mean to cash out by credit card? Is it illegal?

According to the law, cashing out with a credit card is illegal and a crime, suspected of illegal business operations. Violate national regulations, use point-of-sale terminals and other methods to directly pay cash to credit card holders through fictitious transactions, false prices, cash returns, etc. If the circumstances are serious, the provisions of Article 225 of the Criminal Law shall be followed. Convicted and punished for illegal business operations.

Legal Basis

"Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Law in Handling Criminal Cases Obstructing the Management of Credit Cards" Article 7 Violates national regulations and uses point-of-sale terminals Machines (POS machines) and other methods to directly pay cash to credit card holders through fictitious transactions, false prices, cash returns, etc. If the circumstances are serious, they shall be charged with the crime of illegal business in accordance with the provisions of Article 225 of the Criminal Law. Conviction and punishment. Any person who commits the acts mentioned in the preceding paragraph and the amount exceeds 1 million yuan, or causes overdue repayment of more than 200,000 yuan of funds of a financial institution, or causes economic losses of more than 100,000 yuan to a financial institution, shall be deemed to have committed an offense under Article 225 of the Criminal Law. The "serious circumstances" specified in the regulations; if the amount is more than 5 million yuan, or if the financial institution's funds are overdue for more than 1 million yuan, or if the financial institution's economic losses are more than 500,000 yuan, it shall be determined as Article 220 of the Criminal Law. The “extremely serious circumstances” stipulated in the five articles.