18.2-195.1 - Credit card factoring. - Virginia Statutes

§ 18.2-195.1. Credit card factoring.

A. Any authorized person who presents to the issuer or acquirer for payment acredit card or credit card number transaction record of a sale which was notmade by such person or his agent or employee, without the expressauthorization of the acquirer and with intent to defraud the issuer, acquireror cardholder, is guilty of a Class 5 felony. If such act is done withoutauthorization of the acquirer but without intent to defraud, he shall beguilty of a Class 1 misdemeanor.

B. Any person who, without the express authorization of the acquirer and withintent to defraud the issuer, acquirer or cardholder, employs or otherwisecauses an authorized person to remit to an acquirer or issuer a credit cardtransaction record of sale that was not made by the authorized person isguilty of a Class 5 felony. If such act is done without the authorization ofthe acquirer but without intent to defraud, he shall be guilty of a Class 1misdemeanor.

C. As used in this section, "authorized person" means a person authorizedby the acquirer to furnish money, goods, services or anything else of valueupon presentation of a credit card or credit card number by a cardholder andincludes an agent or employee of a person having such authority.

(1991, c. 546.)