What happens with fraudulent credit card transactions? Extremely risky, don't try it!
Although credit cards can be used to withdraw cash, the cost of withdrawing cash is very high, so many people use credit cards to conduct fake transactions through POS machines to obtain funds, so that they can meet their funding needs while enjoying the interest-free period. However, there are certain risks with false credit card transactions. Let’s take a look at what will happen with false credit card transactions.
1. What are false credit card transactions?
We all know that the essence of credit cards is for overdraft consumption and does not allow cardholders to obtain cash, but there are many cardholders It is also possible to obtain cash from credit cards by using fake transactions from merchants. For example, you can swipe your card at a POS machine and ask the merchant to transfer the money to your card, or use a credit card to pay for online shopping and ask the store to transfer the money to you, etc.
It can be seen that the essence of false credit card transactions is actually cashing out.
2. What will happen with false credit card transactions?
False credit card transactions are illegal and can be easily identified by banks. If they are found to have made false transactions by cashing out, they will be punished by the bank. Risk control can range from derating to blocking, and you may even be held criminally responsible. After all, cashing out is a practice that disrupts the financial market and poses a great risk to the normal operation of banks and financial markets.
This is not to scare everyone. Many Shanghai Pudong Development Bank cardholders have received text message warnings from the bank due to false transactions: "Dear Pudong Development Credit Card holders, your credit card transactions are being monitored by our bank. If there are suspected false transaction characteristics, if abnormal transactions continue to occur, our bank may re-evaluate your card limit in the future."
The above is the relevant introduction to "What will happen with false credit card transactions", I hope. Helpful to everyone. All in all, the essence of false credit card transactions is cashing out. This is an illegal act, and serious cases will be caught and punished, so it is best not to do it.
Is it illegal to make false credit card transactions? Never try the law yourself!
Banks issue credit cards to allow cardholders to make overdraft purchases. However, many cardholders use credit cards to conduct false transactions to obtain cash. Although they can meet their financial needs, the essence of false credit card transactions is to cash out . So, is it illegal to make false credit card transactions? Let’s find out together below.
1. Is it illegal to make false credit card transactions?
False credit card transactions are when the cardholder does not withdraw cash through normal legal procedures (ATM or counter), but uses other means to withdraw cash from the credit card limit without charging the bank for cash withdrawals. Behavior.
We all know that cashing out on credit cards will disrupt the financial order and pose a great risk to the normal operation of banks and financial markets, so it is illegal. Once you are caught using a credit card to make false transactions, you will have to pay a price, and in serious cases you will be held criminally responsible.
2. What is the crime of false credit card transactions?
This should be distinguished according to the POS owner and cardholder.
According to the relevant provisions of the "Interpretations of the Supreme People's and Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases Obstructing the Management of Credit Cards", the POS owner will be convicted and punished for the crime of illegal business, and Credit card holders will be punished for credit card crimes, as follows:
1) Illegal business crimes
Article 7 of the "Interpretation" stipulates: Violating national regulations, using 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.
2) Credit card crime
A cardholder who maliciously overdrafts through a POS machine for the purpose of illegal possession will be charged with a credit card crime in accordance with the provisions of Article 196 of the Criminal Law. Conviction and punishment.
The above is the relevant introduction to "Is it illegal to make false credit card transactions?" I hope it will be helpful to everyone. All in all, false credit card transactions are actually cash out. This is an illegal and criminal act. Once found out, you will be held criminally responsible. Please do not take it personally.
How to distinguish real and fake credit cards? How to distinguish wild cards?
Most counterfeit cards now are achieved by rewriting the magnetic strip on the invalid card, so the method of going to an ATM or POS mentioned in answer 1 is incorrect. The identification of cards by these machines is limited to reading the card's magnetic stripe data. Now regarding how to identify the authenticity, I will borrow the answers from other netizens:
Methods for identifying the authenticity of international Visa cards. Recently, the Jinjiang Municipal People’s Court proposed the method for identifying the authenticity of international Visa cards. Pay attention to the following four points:
1. The real Visa has an internationally unified security design. Member banks and approved manufacturers must abide by the regulations. Common counterfeit credit cards on the market have security designs on the cards that are consistent with the same. The real card does not match.
2. The bank identification number (i.e. the first six digits of the Visa card account number) represents the ID number of the Visa issuing bank. The bank name printed on the fake card usually does not match the bank identification number.
3. The (Flying Pigeon) hologram attached to the real Visa is three-dimensional and manufactured by two recognized manufacturers in the United States and the United Kingdom. Common fake credit cards on the market have the (Flying Pigeon) hologram attached to them. , generally two-sided and three-dimensional, inconsistent with the real card.
4. Surrounded by the Visa blue, white and gold logo is a micro-printing, which prints the first four account numbers on the card, the card type and the approved manufacturer code. Common fake credit cards on the market, large Most are not microprinted.
The legal provisions regarding credit cards are:
(1) Using a forged credit card, or using a credit card fraudulently obtained with false identification;
(2) Using an expired credit card;
(3) Pretending to use another person’s credit card;
(4) Malicious overdraft.
Hope this helps
Will the bank call the police if it discovers that the information applied for a credit card is false?
The bank will call the police if it discovers that the information applied for a credit card is false.
1. If the cardholder exceeds the prescribed limit or overdrafts within the prescribed period for the purpose of illegal possession, and fails to return the card for more than 3 months after being called upon twice by the issuing bank, it shall be deemed as one of the 100th violation of the Criminal Law. "Malicious overdraft" as stipulated in Article 96. Malicious overdraft, if the amount is more than 10,000 yuan but less than 100,000 yuan, shall be deemed as a "relatively large amount" as stipulated in Article 196 of the Criminal Law; if the amount is more than 100,000 yuan but less than 1 million yuan, it shall be deemed as a "large amount" under the Criminal Law. "Huge amount" as stipulated in Article 196; if the amount is more than 1 million yuan, it shall be deemed as "especially huge amount" as stipulated in Article 196 of the Criminal Law.
2. Whoever conducts credit card activities with a relatively large amount shall be sentenced to 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 not more than five years or criminal detention. If the amount is particularly huge or there are other particularly serious circumstances, the fine shall be not less than 10 years but not more than 10 years, but also a fine of not less than 50,000 yuan but not more than 500,000 yuan, or property may be confiscated. .
That’s it for the introduction to making fake credit cards.