Recently, the “Huabei” cash-out case that has attracted much attention from all walks of life has finally come to fruition. On the 28th, reporters learned from the Jiangbei District People's Procuratorate that the court's first-instance judgment determined that Du Moumou's behavior of helping others cash out using "Huabei" and collecting handling fees was "illegal engagement in fund payment and settlement business" and constituted the crime of illegal business operations. He was sentenced to two years and six months in prison and fined 30,000 yuan. This case is also the first case in the country where Huabei was used for illegal cash-out and was sentenced to prison.
case:
Cash out through "Huabei"
More than 2,500 “transactions” in 4 days
Du Moumou, who was born in 1992, is from Quanzhou, Fujian Province. He runs an online store, but his business is not good. In July 2015, Du Moumou and his accomplices used fake transactions to help others cash out from "Huabei" through their Taobao store. The way to make profits was to charge a certain percentage of handling fees to the cashiers. The withdrawal ratio of the handling fee will be discussed in advance, usually 7%-10% of the cash amount, and the intermediary will take away most of the handling fee. After the cashier applied for a refund from Du's Taobao online store, Du transferred the amount minus the handling fee to the cashier through Alipay. During the entire transaction, there is no real circulation of goods.
After investigation by the public security organs, from November 10, 2015 to November 13, 2015, Du Moumou and his accomplices used multiple online stores to collude with multiple Taobao users across the country to conduct more than 2,500 fictitious transactions, and cashed out a total of more than 4.7 million yuan from "Huabei".
During the trial, Du Moumou said: "Most of the handling fees were given to intermediaries, and I only received a few thousand yuan. I thought it was Taobao users who were cashing out, and it was not a crime for me to help them."
substance:
"Huabei" is similar to a credit card
Cashing out will disrupt the financial order
It is reported that “Huabei” is an Internet online consumer financial product that provides targeted consumer loan services to registered Alipay customers. Functionally, "Huabei" is similar to a virtual credit card, but it can only be used for online and offline targeted consumption, and no cash withdrawals are allowed. However, some criminals use Huabei to arbitrage fee loans through false transactions.
The behavior characteristics of "Huabei" cash-out and credit card cash-out are basically the same, both of which are to obtain funds through false transactions. The prosecutor in charge of the financial crime handling team of the Public Prosecution Section of the Jiangbei District People's Procuratorate said: "'Huabei', as a consumer credit product similar to bank credit cards, is born with the virtual color of the Internet and does not have physical carriers such as magnetic stripe cards or chip cards. However, the essence of Internet finance is still finance. Fundamentally speaking, using "Huabei" to cash out will also have serious consequences that disrupt the order of the financial market, regardless of whether it has a physical carrier."
The judge of the Criminal Tribunal of Jiangbei District Court said that handling payment and settlement as a business business violates the provisions of the State Council's "Measures for the Suppression of Illegal Financial Institutions and Illegal Financial Business Activities". It is an act of illegally engaging in fund payment and settlement business without the approval of the relevant national competent authorities, and should be punished as an illegal business crime.
Ant Financial:
Three firewalls
Block illegal cash-outs and fraud
The reporter contacted Ant Financial, and the relevant person in charge said that in terms of combating illegal cash-out and fraud using "Huabei", relying on Ant Financial's risk control system, Huabei has established a strict anti-cash-out and anti-fraud system.
In the face of new online cash-out scams, Huabei has deployed three firewalls: an intelligent risk control brain based on massive data, an anti-fraud decision-making engine, and a joint prevention and control mechanism with partners. According to statistics, these three firewalls have intercepted hundreds of thousands of suspicious transactions, prevented hundreds of millions of yuan in losses, and intercepted the vast majority of suspected fraudulent transactions before they happened.
In addition, Huabei has also established joint prevention and control mechanisms with Taobao, Dianping, Weibo and other platforms. So far, Huabei has cleared nearly 10,000 merchants suspected of cash-out and cash-out fraud. (Our reporter Qian Ye)
