We have a prepaid card division that is getting killed by who we believe to be illicit actors gaming the Reg E dispute requirements. We have seen multiple examples where the actor will load anywhere from $600 to $3,000, conduct multiple ATM cash withdrawals, and then almost immediately dispute the cash withdrawals. We have received almost no help from other financial institutions when requesting CCTV footage, etc. Unfortunately this area does non-documentary ID verification and switching over to documentary isn't something we can do.
Has anyone encountered this (We don't see this with our debit cards as we use documentary ID verification)? If so, have you been denying these claims? If so, what is the basis for denying the claims?
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu