Simply put, refund fraud happens when a customer seeks a refund for goods they have purchased and received – but retains rather than returning the goods. Many businesses are apt to regard this kind of activity by “bad actors” – but let’s call them fraudsters, for that is what they are – as just an inevitable cost […]

What is Counterfeit Fraud? Chargebacks under Visa’s Reason Code 10.1 are initiated when a fraudster uses a counterfeit EMV (chip and pin) card and the rightful cardholder claims that they did not initiate the card-present transaction.   How it Happens In rare cases, a skilled fraudster may be able to physically tamper with a card’s […]