The Supreme People's Court and the Supreme People's Procuratorate announced a judicial interpretation that clarifies several Criminal Law articles concerning credit card fraud. The interpretation provides that the forging of only one credit card constitutes a crime and if more than 25 fake credit cards are involved, an offender could face more than 10 years in jail or even life imprisonment, as well as a fine as high as 500,000 yuan. Further, anyone stealing, purchasing or illegally providing the credit card information of others commits a crime. The interpretation also states that cardholders could face charges if they fail to pay outstanding amounts within three months of receiving a second demand notice from their bank.
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China's Supreme People's Court gets tough on credit card crime
- Freshfields Bruckhaus Deringer LLP
- Royce Miller, Melissa Thomas, Richard Chalk, Lea-Anne Lee and Georgia Dawson
- China
- February 17 2010
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Jennifer Miller
Senior Legal Counsel, Bankwest Business
Bank of Western Australia Ltd