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.