Frauds Knocking Your Door?

Fraudsters don’t look at the anyone keeping a soft corner in their heart. They directly keep an eye on the merchant’s pocket and want a product for free. Merchant has to be proactive and look after their account and an eye on the tracking of the product. So that the customer never comes on their head and ask for the claim.

Cause of Frauds & Their Identification

Online fraud is possibly different from the fraud that occurs in traditional businesses as you are uncertain that the person, you’re selling to is a real customer or fraud.

An e-commerce credit card fraud occurs when the information is held loose from the side of a cardholder or someone steals the data of the card. By building up an enormous amount of information online there is a great risk of data breach and hacking. So, whenever a fraudster tries to steal card information, he attempts to do that from a vulnerable or less informative person there is.

Fraudsters find one or the other way to rip you off your money.

Types of Credit Card Frauds:

•CNP (Card Not Present) Fraud: If someone knows the expiry date and account number of your card, they can commit CNP fraud against you. This can be done through a phone, email or the Internet. It essentially means that somebody uses your card without having physical possession of it.

•Overpayments: This is also called as stolen card fraud. The fraudsters present themselves as requiring the services from a third-party. Then he offers to pay the seller the cost, extra sum and often, an additional convenience for accommodating the request.

•Multiple Imprints: When a single transaction is recorded multiple times on credit card imprint machines.

•Collusive Merchants: When a merchant’s employee works with the fraudster to defraud banks.

•Account Takeover: When a credit cardholder innocently and unwittingly gives personal information (such as a home address, mother’s maiden name, etc.) to a potential fraudster, who contacts the cardholder’s bank, reports a lost card on behalf of the cardholder and obtains a new card in the victim’s name.

Chargeback Expertz

The box is full of treasures which gives you the best gem out of it. Chargeback Expertz gives the best solution for the mishap a merchant goes through. Call us at PHONE: +1 855-465-4723 or mail us at EMAIL: app@chargebackexpertz.com