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Fraud Prevention & Security
Terms
- What is friendly fraud?
- Friendly fraud occurs when customers make legitimate purchases but later dispute the charges with their bank, claiming the transaction was unauthorized, often to avoid paying or return policies.
- What is payment fraud?
- Payment fraud is the unauthorized use of payment methods or personal information to make illegitimate transactions, resulting in financial losses for merchants, consumers, or financial institutions.
- What is the Visa Acquirer Monitoring Program (VAMP)
- The Visa Acquirer Monitoring Program (VAMP) is a unified risk monitoring framework launched by Visa on April 1, 2025, that tracks and penalizes merchants and acquirers with excessive fraud and dispute rates on card-not-present transactions. VAMP consolidates five legacy Visa monitoring programs into a single system that calculates compliance using a combined ratio of fraud alerts (TC40) and non-fraud disputes (TC15) divided by total settled CNP transactions.
- What is two-factor authentication?
- Two-factor authentication (2FA) is a security process that requires users to provide two different verification methods—typically something they know (password) and something they have (phone/token)—to access accounts.