China’s Supreme People’s Court and the Supreme People’s Procuratorate announced this week a judicial interpretation that clarifies several laws related to credit card fraud. The announcement is part of the recent crackdown by China on card crimes (see story).
According to the interpretation, individuals need only commit one card forgery to constitute a crime, and individuals who use more than 25 counterfeit credit cards to commit a crime face more than 10 years in jail or possible life imprisonment and a fine as high as 500,000 yuan ($US73,063 or 53,782 euros).
Also, anyone stealing, purchasing or illegally providing other individuals’ credit card information is committing a crime, according to the interpretation. Moreover, cardholders could face charges if they fail to pay outstanding amounts within three months of receiving a second demand notice from their issuer, the interpretation also states.