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Chargeback Blog Posts

By First American Merchant

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Biggest Fraud Threats Facing Merchants

The year 2020 is gearing up to be a banner year for eCommerce fraudsters. As technology continues to both advance and evolve, fraudsters are coming up with more innovative ways to steal from honest merchants.  In the “eCommerce Fraud Trends 2020” report published by the Merchant Fraud Journal, they dive into some of the perpetrators’ latest schemes. Some of their newest tactics include synthetic identity fraud and SIM card swaps. Other modes of attack involve “wannabe hackers” going into the dark web to buy personal information, credit card numbers stolen via algorithms and then directly sold “anonymously” on the dark […]

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Understanding the History of Fraud and How To Prevent It

The avenues of fraud are ever-changing. Fraudsters are continuously finding new ways to bypass security and take advantage of its flaws, keeping prevention specialists on their toes. In fact, according to a study conducted at the beginning of 2018 by the Center for Strategic and International Studies (CSIS) and in partnership with McAfee, internet fraud cost the global economy as much as $600 billion. That number is up from the study in 2014 that estimated global losses at $445 million, and it is only continuing to rise. Understanding the history of fraud can illuminate where we have been and where […]

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FBI to Fight Cybercriminals: What About You?

The FBI has decided to take a directive shift away from counterterrorism. Now, it’s time to fight against the growing threats from cyberattacks, as a Wall Street Journal report states. How are you going to fight cybercriminals? To get answers and know more about the topic, just read below. FBI Fighting Cybercriminals According to Third Way, a center-left think tank in Washington, less than 1% of cyber incidents that can cause harm must be in the center of attention of law enforcement bodies. As a rule, investigations focus on much larger crimes, e.g., when countries get attacked. According to Amy […]

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How to Fight a Chargeback

If a chargeback has made its way into your system, as a merchant you have five to seven days to get back to the merchant account servicer. At all costs, you need to have this done. As a busy merchant, you may think it a most inconvenient thing to happen, but it is also your responsibility to answer to this. By avoiding it, you set yourself up for the loss of your merchant account. Let’s start at the beginning A customer has requested a chargeback. The first thing you need to do is verify that indeed, that customer made a […]

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