Credit Card Chargeback Laws: What You Need To Know
Commercial businesses are always vulnerable to break-ins and thefts. However, some sectors, such as retailers, are more susceptible to less obvious forms of theft, such as credit card chargeback fraud. Chargeback, also known as “friendly fraud,” occurs when a cardholder disputes a financial transaction and gets the payment reversed by their bank instead of contacting […]
How to Navigate Through Chargeback Insurance Options
Chargebacks occur when a buyer requests a reversal of a credit card payment that is issued from the bank. This was created as a way to protect consumers from merchant scams but has since evolved into a way for individuals to commit what is commonly known as “friendly fraud.” Friendly fraud occurs when a consumer […]
5 Fraud Risk Management Solutions You Need
Fraud risk is the likelihood of an organization or business being subject to fraudulent activity. Banks and retailers use several methods to prevent fraudulent activities. To mitigate any fraud risks and be AML compliant, you need a fraud prevention team to stop cybercriminals from accessing your system and data. This fraud prevention team is responsible […]
