yes. According to the law, illegal use of POS machines and other methods directly pay cash to credit card holders by fictitious transactions, false pricing, cash return, etc. If the circumstances are serious, they should be convicted and punished for illegal business operations.
cashing a credit card for another person with an amount of more than 1 million yuan constitutes a crime and can be punished with imprisonment of up to 5 years; If the amount is more than 5 million yuan, or if the funds of financial institutions are overdue for more than 1 million yuan, or if the economic losses of financial institutions are more than 5, yuan, it shall be deemed that the circumstances are particularly serious and sentenced to fixed-term imprisonment of more than 5 years.
if the circumstances of cashing out a credit card are serious, it is suspected to constitute a crime of illegal business operation. Because the essential feature of credit card cashing is to directly convert the credit line in the credit card into a cash set by cheating. Cash-out merchants collude with cardholders to make false transactions by using credit cards, which is actually a disturbance and violation of financial order, and serious cases involve money laundering, so the state has cracked down severely.
for cardholders, there is generally no criminal responsibility, but if it is malicious overdraft, it will still constitute the crime of credit card fraud. In addition, the credit damage to individuals is even greater.
Legal basis:
Article 12 of the 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, in violation of state regulations, uses point-of-sale terminal equipment (POS machines) and other methods to directly pay cash to credit card holders by fictitious transactions, false pricing, cash return, etc. If the circumstances are serious, it shall be convicted and punished for the crime of illegal business according to the provisions of Article 225 of the Criminal Law.
if the amount of the acts mentioned in the preceding paragraph is more than one million yuan, or if the funds of financial institutions are overdue for more than 2, yuan, or if the economic losses of financial institutions are more than 1, 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 if the funds of financial institutions are overdue for more than 1 million yuan, or if the economic losses of financial institutions are more than 5, yuan, it shall be deemed as "the circumstances are particularly serious" as stipulated in Article 225 of the Criminal Law.
if the cardholder maliciously overdraws in the above way for the purpose of illegal possession and should be investigated for criminal responsibility, he shall be convicted and punished for the crime of credit card fraud in accordance with the provisions of Article 196 of the Criminal Law.
Derivative question:
How long does it take for a credit card to be overdue
As long as the cardholder fails to repay the credit card on the repayment date, it can be counted as overdue. However, there is usually a three-day grace period after credit card repayment. If the cardholder can complete the repayment within the grace period, it is generally not overdue.
if the repayment amount is less than the minimum repayment amount stipulated by the bank, it will also be regarded as overdue, and the interest on the overdue day will be calculated at .5%. In addition, there are late payment fees. Credit card late payment fees will impose a fine on the unpaid part of the minimum repayment at a monthly interest rate of 5%.