Counterfeit credit cards, unlawful practices
This law covers dishonest things a business can do with credit cards. It is against the law for a store or business to accept a fake, expired, canceled, or stolen credit card on purpose to cheat the bank. It is also against the law for a business to tell a bank it sold something when it really did not, or to submit payment records for sales that never happened. And it is against the law to trick or pressure another business into sending in fake sales records to the bank.
407.434. s, s — — of . — 1. A person or employee of a person who is by an acquirer to furnish money or upon presentation of a card by a and furnishes money or merchandise to the cardholder upon presentation of a credit card which such person knows to be a counterfeit credit card, expired credit card, , or a credit card used without the of the cardholder, and has furnished such money or merchandise to the cardholder with the the acquirer, has engaged in an unlawful practice.
2. A person who is authorized by an acquirer to furnish money or merchandise upon presentation of a credit card by a cardholder and, with intent to defraud the issuer, the acquirer, or the cardholder, fails to furnish money or merchandise which the person represents in writing to the issuer or the acquirer that he has furnished, has engaged in an unlawful practice.
3. A person who is authorized by an acquirer to furnish money or merchandise upon presentation of a credit card by a cardholder and, with the intent to defraud the issuer, the acquirer, or the cardholder, presents to the issuer or acquirer for payment, a of a sale of merchandise, which such sale of merchandise was not made by the person or his or employee, has engaged in an unlawful practice.
4. A person who, without the acquirer's authorization, employs, , or otherwise causes another person authorized by an acquirer to furnish money or merchandise upon presentation of a credit card by a cardholder, or employs, solicits, or otherwise causes, an agent or employee of such other authorized person to to the acquirer a credit card transaction record of a sale that was not made by such other authorized person or his agent or employee, has engaged in an unlawful practice.
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Source & history notes
(L. 1991 S.B. 112)
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.