Virginia's Section 18.2-195.1 criminalizes the unauthorized use or presentation of credit card transaction records with the intent to defraud. It specifies penalties for both intentional fraud (Class 5 felony) and acts without intent to defraud (Class 1 misdemeanor). The law also defines an 'authorized person' as someone authorized by the acquirer to handle transactions.
Credit card factoring involves presenting or causing the presentation of a credit card transaction record not made by the authorized person, with the intent to defraud, without proper authorization.
If done with intent to defraud, it is a Class 5 felony; if without intent to defraud, it is a Class 1 misdemeanor.
An authorized person is someone authorized by the acquirer to handle transactions, including agents or employees of such persons.
Yes, intentional acts to defraud are Class 5 felonies, while acts without intent to defraud are classified as Class 1 misdemeanors.