Dec. 16 – Hong Kong and mainland Chinese credit cards users risk jail time should they default on credit card debts three months after receiving a second warning notice, reports the South China Morning Post.

Penalties for Hong Kong residents using cards issued by mainland banks will depend on whether the card was issued in the mainland or Hong Kong, and the liability specified in the contract. Users in China are subject to law that specifies “malicious overdraft” as a criminal offense.

According to the People’s Bank of China RMB7.42 billion in credit card debt was more than six months overdue during the third quarter of this year.