Sell­ing of credit cards is a crime, not a grey area

China Daily (Hong Kong) - - COMMENT - THE SELL­ING, US­ING, RENT­ING AND PUR­CHAS­ING OF CREDIT CARDS

has be­come a business, and it is easy to buy some­one else’s credit card on­line, which has turned out to be the source of fi­nan­cial crimes and on­line fraud. It is high time such crimes were cracked down on. Bei­jing News com­ments:

There have been re­ports about com­pa­nies openly “rent­ing” credit cards to other com­pa­nies to help them get loans. By us­ing credit cards in other peo­ple’s names, they shirk the re­pay­ment re­spon­si­bil­ity that credit card hold­ers are sup­posed to shoul­der, which gives some com­pa­nies and in­di­vid­u­als op­por­tu­ni­ties to com­mit il­le­gal ac­tiv­i­ties. As a re­sult, in­ter­net fraud, get­ting loans through il­le­gal chan­nels and money laun­der­ing are ram­pant.

Those in­volved in such il­le­gal business claim this is a “grey” area that the law has not clearly de­fined as il­le­gal. But that is wrong. Rel­e­vant reg­u­la­tions stip­u­late that credit card hold­ers are not al­lowed to rent or sell their cards to oth­ers. The Crim­i­nal Law un­am­bigu­ously states that it is a crime to steal, buy, or rent ma­te­ri­als to ap­ply for

credit cards and those com­mit­ting such acts face crim­i­nal penal­ties.

The un­der­ground chain of us­ing, rent­ing or pur­chas­ing credit cards to ob­tain loans is a crime and those com­mit­ting such a crime should re­ceive their due penalty ac­cord­ing to the law.

Cur­rently some on­line shop­ping plat­forms have al­ready pro­hib­ited shops from sell­ing or rent­ing credit cards, but some still sell or rent them via so­cial me­dia plat­forms, such as Ten­cent’s in­stant mes­sag­ing app WeChat. There­fore, the com­pa­nies that op­er­ate the so­cial me­dia plat­forms must take ac­tion, too, and pro­hibit the sell­ing of credit cards.

More im­por­tantly, the police and the ju­di­ciary must strengthen mea­sures to strike at the un­der­ground chain.

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