Dive Summary:

• Consultants which specialize in helping online merchants manage chargebacks have recently urged merchants to require new security standards to help combat “friendly fraud” tactics.
• In a recent survey, friendly fraud has risen from 23% to 70% in last past three years, according to the consultancy.
• In addition to requiring digital signatures for online purchases, they are urging online retailers to keep a more detailed list of transactions.

From the article:

“Friendly fraud” occurs when a purchase is made with a card over the Internet and then the cardholder contacts the card issuer to report that they never made the purchase, said Chargebacks 911.