Digital Chargeback Frauds

Recently, there have been many emerging cases where the users deny having consented to have their information used for the purpose of availing any services from the providers.

Generally, asking for consent entails clicking a checkbox or hitting the ‘I Agree’ button written after a statement consisting of all the points for which consent is required.

There have been users claiming that they were not the ones who gave consent for their data use and processing. However, they were, indeed, the ones to avail the service.

In numerous other cases, it was also reported that the actual users neither consented to the use of their information nor were they the ones to use the service offered by the business providers.

With this argument in place, there were a huge number of requests for their money back, incurring financial losses to businesses and time consumption for companies and banks alike.

In fact, the hike in chargeback frauds can be seen from this article as well: https://shuftipro.com/blogs/fraud-protection-for-online-retail-businesses/

What are your thoughts about this issue?