Of course the electronic cards have their own positive and negative sides.
One of its bad parts for the cardholder when he is unable to pay the amount due, partially or as a full, so here comes the role of the Collection Unit and the Cards Unpaid Section, which have the responsibility to follow up unpaid installments pertaining to delinquent, before they turn the file of the debtor to the legal and the problem loans and collections departments.

As i always say, if you cannot control your credit card, do not use it.

image source

A very important part in the credit card circle of life is being threatened by a fraudulent transactions, which will affect the cardholder, the issuer bank, the merchant and the company that embossed the card.

So as a bank it’s a must to have a Fraud Management & control Unit, which mainly have the duties of providing the fraud identification, proactive monitoring, chargeback and investigation services, pertaining to payment cards. The unit also handles research and reconciliation of chargeback cases, in line with the local and international laws and regulations.

image source

Different sections are meant to deal with the fraud:

• Cards Transactions Monitoring Section.
  This section handles the monitoring and reporting of suspicious merchants and card transacions.
• Card Chargeback section
  From its name it got the responsibility of handling the chargeback requests.

N.B.: a chargeback is when the credit card provider asks for making good the loss on a fraudulent or disputed transaction.

Now a fraud is when some one tries to commit a theft or any other illegal act using a payment card (debit or credit card).

There are big odds that a fraud can happen to any one of us at least once in our life, that’s why it’s important to know how to fight the fraud.

In the next part i will talk about fraud prevention.

To be continued with Diary of a BANKER Part- 21

The text published in this post is my original work.

Some images are from different sources click on the link below the image to view the source.

**Kindly don’t forget to check the old parts from “Diary of a Banker” for entertainment and more information.

Diary of a Banker part-1

Diary of a Banker part-2

Diary of a Banker part-3

Diary of a Banker part-4

Diary of a Banker part-5

Diary of a Banker part-6

Diary of a Banker part-7

Diary of a Banker part-8

Diary of a Banker part-9

Diary of a Banker part-10

Diary of a Banker part-11

Diary of a Banker part-12

Diary of a Banker part-13

Diary of a Banker part-14

Diary of a Banker part-15

Diary of a Banker part-16

Diary of a Banker part-17

Diary of a Banker part-18

Diary of a Banker part-19

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