Yang Zhongmin told the reporter that the crime of defrauding loans belongs to the fourth section of "Disrupting the Financial Management Order" under Chapter Three of the Criminal Law, titled "Disrupting the Socialist Market Economy Order." On the other hand, the crimes of loan fraud and credit card fraud fall under the fifth section of the same chapter, which is titled "Financial Fraud."
Whether the purpose of illegal possession exists is an important distinction between the crime of defrauding loans and the latter two.
Article 196, Paragraph 1, Item 4 of the Criminal Law stipulates the situation of "malicious overdraft" in credit card fraud. The second paragraph of this article explains that malicious overdraft refers to a cardholder exceeding the specified limit or duration for overdraft with the intention of illegal possession, and after being prompted by the issuing bank...