Chinese Business News for the use of POS card swipe cash, the existing clear legal provisions: in the case of a certain amount, the act constitutes a crime of illegal business.
Wu, a 31-year-old worker from Yulin City, was detained by Yuheng Industrial Park Branch of Yulin Public Security Bureau on June 1, 2017 on suspicion of illegal business.
From July 2016 to June 2017, Wu handled three mobile POS terminals successively, offering credit card repayment and cash-taking services for others through fictitious transactions, from which he collected handling fees for profit. From July 2016 to June 2017, Wus total amount of credit card arbitrage for fictitious transactions was 2341576.79 yuan.
Wu Mou violates the state regulations by using POS machines to arbitrate cash for credit card holders through fictitious transactions, collects fees from the holders and gains illegal profits. The circumstances are serious. His actions disturb the market order and conform to the constituent elements of the crime of illegal operation stipulated in the Criminal Law of the Peoples Republic of China. He shall be convicted and punished according to law for the crime of illegal operation. The fact that the public prosecution organ charged Wu Mou with illegal business operation and the charges were convicted.
Wu Mous illegal business amount is 2341576.79 yuan, which is serious and should be sentenced to fixed-term imprisonment of less than five years according to law. In view of the fact that Wu Mou can truthfully confess his crime in investigation, examination and prosecution and court trial, he can be given a lighter punishment. Recently, in order to maintain the order of the national market and crack down on criminal offences, the Yuyang Court, in accordance with the provisions of the Criminal Law of the Peoples Republic of China, sentenced Wu Mou to two yearsimprisonment and fined RMB 100,000. ?
Source of this article: Ji Xueying_NN6784, responsible editor of China Business Network-China Business Daily