MS SB2445

Creates a felony offense for possession of a scanning device or reencoder without cardholder permission with intent to defraud a cardholder, credit card issuer, or merchant.

Defines "scanning device" as any electronic device used to access, read, scan, obtain, memorize or store information encoded on a credit card's magnetic strip.

Defines "reencoder" as an electronic device that transfers encoded information from one credit card's magnetic strip to another credit card's magnetic strip.

Establishes penalties of up to 5 years imprisonment, a fine up to $10,000, or both for violating this offense.

Effective date is July 1, 2019.