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Chase chargeback9/28/2023 ![]() So it's incredibly frustrating and can be really damaging for a lot of these smaller companies," said Corinne Pohlmann, senior vice-president of national affairs and partnerships for the CFIB, a not-for-profit that represents more than 95,000 small- and medium-sized businesses. "The worst part is, have done everything that they're supposed to do. (Candian Federation of Independent Business) Merchants say this is not uncommon 14 per cent of surveyed Canadian businesses say they have faced credit card transaction disputes, according to a 2019 poll of more than 7,000 Canadian Federation of Independent Business (CFIB) members.Ĭorinne Pohlmann, vice president of national affairs at the Canadian Federation of Indepenent Business, says the group's members usually find themselves on the losing side of credit card chargeback disputes. The Loiks tried for months to resolve the issue themselves.Īfter Go Public contacted Chase, the bank initially offered to return $5,000 as a "goodwill gesture," saying it had reviewed the account and understood "the challenges the chargebacks have caused."Īfter repeated questions from Go Public, Chase then returned all but $6,272, the amount of two of the June transactions. It did not say why. In this case, she said, "what you likely have is a spoofed card or an otherwise fraudulent card that has been created to specifically defraud merchants … there's really no way for the merchants to protect themselves from something like that." Mary's University in Halifax says, despite what most banks say, no system is foolproof.įraud prevention researcher Vanessa Iafolla reviewed the Loiks' transaction records and says she couldn't see what more they could have done to ensure the credit card transactions were legitimate. The former bank teller turned fraud prevention researcher at St. I swear by the life of my mother, and I would swear on it in court."īank fraud expert Vanessa lafolla says she's surprised Chase went after the Loiks "in such a strenuous way." "I was standing about three feet away and saw him physically put the card into the machine … He did enter a PIN and then he was standing there waiting for it to be approved. ![]() The bank said the legitimate cardholder was claiming fraud and that the Loiks were on the hook for the money because no chip and PIN was used in the transactions. ![]() But by the end of July, Chase Bank, which handled the Loiks' credit card transactions, had pulled $23,032.80 out of their business account without warning. She also got authorization codes approving all of the transactions. ![]() Got a story? Contact Rosa and the Go Public teamĮach time, Brigitte says she did everything required under the bank's rules: checked the man's identification and signature against the card and made sure he used the chip and PIN."It just blows my mind that they can do this to us," Brigitte told Go Public. Over the next week and a half, he came in several times to pick up parts of the order and pay for them.īut when that order turned out to be credit card fraud, the couple says they were hung out to dry twice: once by the fraudster who drove off with the goods, then by the banks. The customer called himself Barry Alard, and had the identification and Visa card to match. The Burnaby, B.C., business was struggling to stay afloat during the pandemic. When a $23,000 order for food truck equipment came in to Brigitte and Dan Loik's struggling restaurant equipment business in June, the couple hoped it was a sign the tough times were turning around. ![]()
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