On Credit Card Fraud

Since the issue of the first BOC credit card by Bank of China in 1990s, the business related to credit card in our country have been developed rapidly, and at the same time, some criminals continuously use the features of credit card and defects in the bank management for credit card fraud, consequently more and more numbers of credit card crimes and amounts in the cases.Even though our country has established legislation and judicial related to credit card to penalize and prevent illegalities, new crime forms have increased constantly, especially deceitful information applying for credit cards, fraud and arbitrage of credit cards and other activities which have been opened in public and industrialized. On December 16,2009, the Supreme People's Court and the Supreme People's Procuratorate of P.R. China promulgated and enforced Explanation of Some Questions on Specific Applicable Laws in Treatment of Criminal Cases of Impairing Credit Card Management, of which clause V and VI made regulations on credit card fraud. The Supreme Court and Procuratorate made clear definition on criminals behaviors including use of fake credit cards, false obtain of credit cards with fake identification cards, invalid credit cards or illegal use of other people's credit cards as well as malicious overdraft. However, due to the complexity and diversity of criminals related to credit card in our daily life, these explanations cannot achieve definite nature of credit card fraud yet in judicial practice. So, I think it is necessary to make more detailed and thorough research and discussion on these issues for the purpose of maintaining the normal order of financial management and protecting the legal property rights of banks and card holders.Through analysis and comparison of definition, classification and development of credit card fraud and legislative systems related to credit card fraud in various countries, starting from the key elements constituting a criminal, this article makes detailed analysis of the judicial determination and some complicated problems about credit card fraud, and especially makes exploration and discussion on the malicious overdraft behaviors from multiple aspects.This article is divided into four parts. The first part is an overview of credit card fraud, including definition and classification of credit cards, definition of credit card fraud, comparison of legislation in the world, as well as legislative development and reform in our country. The second part explains the two disputes of credit card fraud.The third part analyzes the action of credit card fraud.. And the fourth part is suggestions about to perfect the legislation about credit card fraud, in addition, based on the discussion in the first four parts, the author made a comprehensive summary and hence the conclusion that interception terms and clauses shall be supplemented to the four conditions related to credit card fraud to better fight against credit card fraud who intend to make illegal use of the defects of laws.