Quote from: hugolp on July 26, 2011, 12:40:58 PM

For the ones that hate all legal terminology, can you explain the difference between a chargeback and reversing a transaction.

Not sure there is a legal definition of "chargeback" at all, but in common use it generally refers to the rather expensive process by which credit and debit card payments reversals are carried out by the major providers. If memory serves me correctly at least one industry with high chargeback rates (the porn industry) is more worried about the nasty penalties associated with chargebacks than the transactions being reversed - they can eat the loss of income because their marginal costs are fairly small, but the fees really bite.

Quote from: airdata on July 26, 2011, 12:49:06 PM

I would think somebody would have to have proper credentials in order to goto their bank and claim a transaction is fraudulent.

In which case they would be using their real name and information. Isn't this traceable back to their bank? Hard to use TOR and proxies at a physical bank location.

You're assuming the transaction was actually carried out by the account holder. There's a large chance the transactions in question genuinely were carried out fraudulently for exactly this reason: false claims of fraud would be risky and easy to trace.