In Michigan there are several crimes related to credit card fraud, debit card fraud, and gift card fraud or point of sale fraud that are commonly prosecuted. The above mentioned items are also referred to in Michigan as financial transaction devices. Even the possession of someone else’s account number, credit card number, PIN (personal identification number), personal account, or business account can be prosecuted when possessed fraudulently to obtain money, a refund, or credit for goods, services, or other things of value under certain circumstances.
The most common financial transaction device fraud or credit card fraud case in Michigan is for stealing, taking, removing a financial transaction device from the deviceholder. MCL 750.157n(1) provides that a person who steals knowingly takes, or knowingly removes a financial transaction device from the person or possession of a deviceholder, or who knowingly retains, knowingly possesses, knowingly secretes, or knowingly uses a financial transaction device without the consent of the deviceholder, is guilty of a felony. This crime carries a maximum possible punishment of up to 4 years in prison.
There are sophisticated financial transaction device crimes that involve devices that are fraudulently made or altered to duplicate a legitimate credit card, debit card, or gift card. Under MCL 750.157n(2) a person who knowingly possesses a fraudulent or altered financial transaction device is guilty of a felony. There is a market for selling, trading, or otherwise giving away financial transaction device. According to MCL 750.157p a person who has in his or her possession, or under his or her control, or who receives from another person a financial transaction device with the intent to use, deliver, circulate, or sell the financial transaction device, or to permit, cause, or procure the financial transaction device to be used, delivered, circulated, or sold, knowing the possession, control, receipt, use, delivery, circulation, or sale to be without the consent of the deviceholder, is guilty of a felony. The person who with intent to defraud, forges, materially alters, simulates, or counterfeits a financial transaction device is guilty of a felony under MCL 750.157r. All of these crimes carry a maximum possible penalty of up to 4 years in prison.