Unauthorized use of a card or account to obtain goods or money. Card-present fraud is curbed by EMV; card-not-present fraud is fought with AVS, CVV, 3-D Secure, and monitoring tools.
Why it matters for your business
Terms like Fraud aren't just jargon — they sit behind what you actually pay to accept payments. Understanding them is the difference between reading your statement and being at the mercy of it. If you're not sure how this shows up in your own costs, the fastest way to find out is to have someone read your statement line by line.
See what you're really paying →Related — Risk & Compliance