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Friendly fraud is anything but friendly. Friendly fraud has grown in recent years with the rise of ecommerce. A customer makes a purchase online for a product or service with their credit card and then contacts their credit card issuer to dispute the charge.
This type of fraud is often referred to as friendly fraud because the customer will make claims that seem believable and honest. But in actuality, if this type of fraud was occurring in a brick-and-mortar shop, it would be called theft or shoplifting.
We want you to have the right information to be able to understand what this fraud looks like, to learn how you can prevent it, and know how to differentiate it from chargeback fraud.
The key to identifying friendly fraud is in knowing who your customers are, understanding their buying habits, and having key mechanisms in place to limit the chances of it occurring.
Some typical examples that customers will use when contacting their credit card issuer with a fraud claim include:
Keep in mind that some of these claims might in fact, be valid. This is why we have this category of friendly fraud because there is a chance that the customer is being honest and the reported problem has actually occurred.
Now that you know some of the most common reasons for these fraud claims, here is what you can do to dispute these claims:
As you can see it’s very important to have clear and obvious documentation and tracking information. Make sure you are tracking orders, verifying deliveries, and have clear and accessible wording on your website.
This is a challenging question to answer. While no fraud is 100% preventable, there are measures you can take to make it more difficult for friendly fraud to occur.
It really comes down to data and knowledge. The more information you can provide about the customer’s purchase and delivery, the harder it is for such fraud to occur.
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