Thursday , July 27 2017
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What is Fraud ?

Fraud any act of deception carried out for the purpose of unfair, undeserved and/or unlawful gain. Fraud is an adaptive crime, so it needs special methods of intelligent data analysis to detect and prevent it. Also Fraud can be defined as wrongful or criminal deception intented to result in financial or …

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What is Fraud Notification Service (FNS)?

MasterCard implemented the Fraud Notification Service (FNS) as a means of ensuring that chargebacks are properly submitted by the issuer in 2011. By this way, merchants have new representment right for Multiple Fraud-Related Chargebacks. This service helps determine if a chargeback representment option is possible. MasterCard expanded their rules regarding …

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Payment Card Fraud in the Travel Industry

Payment card fraud is on the rise and nearly all of the increase is in card-not-present channels. The growth in card not present fraud is being driven by increased online spending and the continued adoption of chip-and-pin technology, which is driving fraudulent transactions from physical locations to e-commerce environments.

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What is a CHARGEBACK ? How Does a Merchant Respond To a CHARGEBACK ?

What is a Chargeback ? A chargeback is the reversal of a sale transaction. For merchants, chargebacks can be costly. Merchants can lose both the amount of the transaction being charged back and the related merchandise. Merchants also incur own internal costs for processing the chargeback. Although merchants probably can …

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