Credit Card Skimming Affects One in Five ATM Users
Skimming is the copying of a bank card information, which is then re-encoded on a counterfeit card and used for processing fraudulent transactions....
Tag: credit card fraud
Credit Card Factoring
In the Payment Card Industry, factoring occurs when a merchant deposits card transactions with its processing bank on behalf of another merchant....
How Scammers Stole $10M from the Credit Cards of 1.3M Americans
Criminals steal $10M from 1.3M Americans through an elaborate scheme, involving more than 16 dummy corporations and more than 100 merchant accounts....
Merchant Audit: Initiation, Review Process and Consequences
A merchant audit can be initiated whenever there are reasons to believe that the merchant may be high risk or is processing invalid transactions....
How to Manage Chargebacks Resulting from Multiple Fraudulent Transactions
Visa uses chargeback reason code 57 to designate chargebacks caused by multiple transactions posted by a merchant on a single credit card account....