Skip to content

Fraud using MasterCard SecureCode

Question: 
Our processor says we don’t have chargeback rights since a purchase was made using MasterCard SecureCode. Can we deny the claim since the cardholder’s password was used?
Answer: 

Reg E does not permit claims to be denied in cases of customer negligence. If the customer’s SecureCode password was hacked, stolen, or phished, they still have a valid claim under Reg E regardless of whether or not the Bank has chargeback rights.
-----------------------------
Learn more about Brian Crow’s webinar
Mastercard and Reg E Error Resolution

First published on 10/06/2019

Filed under: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics