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Credit Card Chargeback

Chargebacks are an effective way for consumers to protect themselves from online scams. Unfortunately, the scammers themselves have found ways to exploit chargebacks for their own benefit. Instead of disputing illegitimate transactions, the scammers attempt to chargeback legitimate transactions. They hope that they’ll be able to keep both the goods they purchased and the money.

Many businesses don’t have the expertise required to handle fake chargebacks. They don’t understand the appeals process for fighting chargeback fraud. This means that they lose their income, give away products for free, and have to pay the high fees incurred by chargebacks.

Most large financial institutions are slow to adapt to scams. Banks don’t have the resources to manage chargebacks properly. Whether the chargeback is to recover funds lost to an online scam, or a scammer trying to get an undue refund, the banks simply don’t have the staff in place to properly evaluate every claim. 

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