What do you know about chargeback and fraud

Question

Accepted Answer

Chargeback and fraud are common issues in financial transactions, involving unauthorized transactions and disputes.

Chargeback is a process where a customer disputes a transaction and the funds are returned to the customer.
Fraud involves unauthorized or deceptive activities to gain financial advantage.
Fraud can occur through various methods such as identity theft, phishing, and card skimming.
Fraud analysts use data analysis and investigation techniques to detect and prevent fraudulent activities.
Chargeback and fraud prevention measures include monitoring transactions, implementing security protocols, and educating customers.
Examples of fraud include account takeover, friendly fraud, and online payment fraud.

Accepted Answer

Read about the Chargeback cycle. Arbitration, representment and reason codes

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