BUILDING SUPPLY INDUSTRY ASSOCIATION - Spring 2019 - 16

FEATURE

|

BY MARC WEBER, BASELINE PROCESSING

CARD-NOTPRESENT
FRAUD IS
SOARING:

IS YOUR
BUSINESS
READY?

So-called "Friendly Fraud"
is on the rise - and it's
your enemy

F

riendly fraud now accounts for around 86% of all chargebacks, according
to a recent whitepaper from Global Risk Technologies. It can cost your
business in many ways: lost revenue, lost merchandise, chargeback fees,
shipping costs, transaction fees and the time it takes to deal with the dispute.
Unlike identity theft fraud, where a stolen or cloned credit card is used to complete a
purchase, friendly fraud occurs when an authorized cardholder disputes a legitimate charge,
and the bank forces through a refund under the pretense that the merchant has done
something wrong.

16

NEWS MAGAZINE | BSIA NEWS | SPRING 2019



Table of Contents for the Digital Edition of BUILDING SUPPLY INDUSTRY ASSOCIATION - Spring 2019

https://www.nxtbook.com/naylor/BSPS/BSPQ0320
https://www.nxtbook.com/naylor/BSPS/BSPQ0220
https://www.nxtbook.com/naylor/BSPS/BSPQ0120
https://www.nxtbook.com/naylor/BSPS/BSPQ0419
https://www.nxtbook.com/naylor/BSPS/BSPQ0319
https://www.nxtbook.com/naylor/BSPS/BSPQ0219
https://www.nxtbook.com/naylor/BSPS/BSPQ0119
https://www.nxtbook.com/naylor/BSPS/BSPS0518
https://www.nxtbook.com/naylor/BSPS/BSPS0318
https://www.nxtbook.com/naylor/BSPS/BSPS0218
https://www.nxtbook.com/naylor/BSPS/BSPS0118
https://www.nxtbook.com/naylor/BSPS/BSPS0617
https://www.nxtbook.com/naylor/BSPS/BSPS0517
https://www.nxtbook.com/naylor/BSPS/BSPS0417
https://www.nxtbook.com/naylor/BSPS/BSPS0317
https://www.nxtbookmedia.com