Payments and Fraud Glossary


Level of Assurance (LoA)

Degree of confidence reached in the authentication process that the entity is what it claims to be or is expected to be.

Investment fraud

Investment fraud is any scheme or deception relating to investments that affect a person or company. Investment fraud includes:

  • illegal insider trading
  • fraudulent manipulation of the Stock Market
  • prime bank investment schemes.
Liability shift

The liability for chargebacks resulting from fraudulent transactions moves from the merchant to the issuing bank when the merchant has authenticated the transaction using any of the 3-D Secure protocols. Without Consumer Authentication, merchants are liable for chargebacks.