This is NOT Fraud Advice--Chargebacks
We are back explaining (but not advising) how people commit fraud.
If, like me, you have an obsession with fraud and a soft spot for gossipy news articles, you may have stumbled upon this one the other week.
The article tells the story of "Matt Bergwall, a skinny 21-year-old University of Miami student," who falls into the bucket of young men we described last week.
Rather than wire fraud to scratch his entrepreneurial (read: steal money on the internet) itch, Matt focused on chargeback fraud. He was pretty damn good at it. It is so good that between December 2021 and April 2022, he made $3.5 million
So here is how you commit chargeback fraud (disclaimer: THIS IS ABSOLUTELY NOT FRAUD ADVICE):
Like any good high school essay, let's start with Webster's definition:
Chargeback fraud is a type of fraud that occurs when a cardholder intentionally disputes a charge in order to get a refund while keeping the product or service.
Chargeback fraud can be either first-party or third-party fraud. (Quick note for the uninitiated: any time you hear "third-party fraud," it means identity fraud in which a stolen identity is used to defraud.)
If you only want a free pair of shoes, you are good with sticking to first-party fraud, and it is pretty simple
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For more extensive schemes, you need to initiate a lot of chargebacks, risking being flagged by your credit card issuer. You have to get creative, but the good news is you have a couple of options:
Steal some credit cards:
Fake Tracking ID:
The fraud landscape is expansive for enterprising young adults looking to make money online. There are Telegram groups, Reddit threads, and Discord chats to guide you step-by-step. We are here to share their tactics (and help you from being the victim!)
Fighting fraud and having fun doing it!