Post
Topic
Board Beginners & Help
Re: How to protect your project from investments with a stolen CC?
by
HCP
on 03/03/2019, 22:47:48 UTC
How about if the buyer uses a stolen credit card, and a true owner of the credit card makes a chargeback? Is there any way to protect yourself from such chargebacks?
In short... No. If someone gets past all your KYC attempts with a stolen card, and the true owner makes a chargeback, you'll lose. It is the same with "bricks and mortar" stores. The CC companies pass all the "liability" onto the merchants. Sad

Your options are to be VERY strict with the vetting of credit card investors (full KYC including selfies with custom messages and holding ID etc), or simply don't allow people to use CC's to invest and insist on Crypto (or other non-chargeback) payments only.