Credit Card Law Revamped

China's Supreme People's Court (SPC) and the Supreme People's Procuratorate (SPP) announced on Dec. 15 a judicial interpretation that elaborates on several Criminal Law articles concerning credit card crime. The interpretation became effective on Dec. 16.

Xiong Xuanguo, vice president of the SPC, said that credit card fraud, such as the use of a fake ID to apply for a card or withdrawals of large amounts of money with forged cards had been on the rise in recent years to the extent that it had become a burgeoning industry.