If you've got a fraud problem, you've got a chargeback problem. Chargeback rights were enshrined in the law specifically to combat the problem of credit card fraud, which has only grown more pervasive as ecommerce takes over our shopping habits. True fraud chargebacks are especially problematic because they cannot be fought after the fact, only prevented in advance.

One way for merchants to get ahead of fraudsters is by using fraud filters that identify and screen out potentially fraudulent transactions. How well do fraud filters really work, and how they best be used to proactively avoid true fraud chargebacks.

Online retail fraud keeps growing more and more prevalent, costing merchants hundreds of millions of dollars every year. In 2020, the COVID-19 pandemic pushed consumers toward ecommerce shopping in even greater numbers, and all that increased activity has caused a commensurate rise in fraud attempts.

When a consumer finds out that their card has been stolen and used to make unauthorized purchases, their best recourse is to report the fraud to their bank and receive a chargeback.

Full Text:
https://www.chargebackgurus.com/blog/fraud-filters

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Phil Claffey