--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar


Hot Links
China Development Gateway
Chinese Embassies

Credit Card Fraud, Sabotage Amendments

China's top legislature approved draft amendments to its Criminal Law on Monday in an effort to crack down on increasing credit card fraud and the sabotage of military equipment.

The new terms went into immediate effect.

The amendments were submitted on February 25 to the 14th session of the 10th National People's Congress Standing Committee for second deliberation.

Credit card fraud has been rampant in recent years. Domestic criminals working with overseas accomplices have become adept at creating, transporting, selling and using fake cards. However, until now the law did not refer to it specifically.

The additions include new clauses on credit card fraud that widen the definition of the term "credit card."

They introduce more severe punishments for credit card crime up to and including life imprisonment and confiscation of property.

Financial sector staff abusing their positions to commit credit card fraud will face especially harsh punishment.

According to media reports, credit card crime results in annual losses of around 100 million yuan (US$12 million) on the Chinese mainland.

Another new clause was added to punish sabotage of military equipment.

It says that even unpremeditated sabotage of military arms, facilities, or telecommunications equipment will be grounds for imprisonment of up to three years. If the circumstances are serious, saboteurs could face imprisonment of three to seven years.

China's Criminal Law was adopted in July 1979 and amended on a large scale in March 1997.

(China.org.cn by Wang Zhiyong, March 4, 2005)

Efforts to Strengthen Credit Management
Personal Credit Record System Pending Launch
Crackdown on Financial Crimes Gains Momentum
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688