Shoppers are reportedly getting increasingly comfortable disputing credit card charges. That’s because consumers have discovered how easy it is to do so, the Wall Street Journal (WSJ) reported Wednesday (June 19). Consumers disputed around 105 million charges with U.S. card issuers last year, the report...
The digital age has ushered in unprecedented opportunities for business growth, but it has also given rise to increasingly sophisticated fraudulent activities. From friendly fraud to elaborate chargeback schemes, merchants face a myriad of challenges in their quest to safeguard their operations, frequently leading to...
Friendly fraud is a bit of a misnomer; first-party card misuse would be more accurate. That’s because, just like other types of fraud and cybercrime, friendly fraud is anything but friendly. And with more people conducting transactions online and purchasing digital goods, the opportunities for friendly fraud...
Amazon has sued an international group known as REKK for allegedly stealing millions via fraudulent returns. The suit, filed last week in U.S. District Court in Seattle, alleges that REKK — which it calls an “international fraud organization” — worked with Amazon customers and former employees...
April 17, 2023
Transaction disputes are massing across digital channels. Mike Lemberger, head of risk for North America at Visa, told PYMNTS that friendly fraud, also known as first-party fraud, accounts for as much as 16% of fraud disputes, as estimated by Merchant Risk Council. With a nod to how fraud has been evolving, Lemberger said, “The term […]
November 28, 2022
Everything’s digital now, and paper check fraud hails from a bygone age, right? Wrong. Data finds the exact opposite, as the glaring problem with remote check capture is...
June 16, 2022
To quote that old song: “To everything there is a season.” And payments, there are seasons for disputes. In an interview with Karen Webster, Verifi CEO Sara Craven said...
May 16, 2022
The online shopping surge of the past two years heightened the risk of credit card fraud and drove many merchants to invest more heavily in anti-fraud measures. Merchants tend to...
June 19, 2024
Shoppers are reportedly getting increasingly comfortable disputing credit card charges. That’s because consumers have discovered how easy it is to do so, the Wall Street Journal (WSJ) reported Wednesday (June 19). Consumers disputed around 105 million charges with U.S. card issuers last year, the report said, worth an estimated $11 billion. That’s up from $7.2 […]
December 10, 2023
Amazon has sued an international group known as REKK for allegedly stealing millions via fraudulent returns. The suit, filed last week in U.S. District Court in Seattle, alleges that REKK —...
October 23, 2023
Mastercard has launched a program designed to help merchants battle “friendly fraud.” The company’s First-Party Trust program, announced Monday (Oct. 23), employs “enhanced transaction insights,” artificial intelligence (AI), and risk modeling to combat friendly...
September 28, 2023
Visa says it has made it easier for merchants to fight so-called “friendly fraud.” The payments giant on Thursday (Sept. 28) announced an update to its dispute process for friendly fraud or first-party...
