Fraud
6341 Fraud Investigation
Details
This code is used when an issuer initiates a retrieval request to gather documentation related to a transaction under investigation for potential fraud. It's a non-financial inquiry aimed at obtaining information to assess the legitimacy of the transaction before deciding on further action.
Timing to raise the dispute (Issuer/Cardholder)
Timing to respond to the dispute (Acquirer/Merchant)
How to respond?
To address a retrieval request under Reason Code 6341:
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Provide Transaction Documentation: Submit a clear, legible copy of the original sales receipt or transaction record, including details such as the transaction date, amount, and description of goods or services provided.
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Include Additional Relevant Information: If available, provide any correspondence with the cardholder related to the transaction, proof of delivery, or evidence of service fulfillment.
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Highlight Security Measures: Detail any security protocols followed during the transaction, such as verification of identification, use of CVV codes, or address verification services (AVS).
How to prevent?
To minimize the risk of chargebacks under 6341:
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Implement Robust Fraud Prevention Measures: Utilize tools such as AVS, CVV verification, and 3D Secure authentication to reduce the risk of fraudulent transactions.
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Maintain Clear Transaction Records: Ensure that all transaction records are detailed and easily accessible, including customer information and purchase details.
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Monitor Transactions for Suspicious Activity: Regularly review transactions for unusual patterns or behaviors that may indicate fraudulent activity.
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Educate Staff on Fraud Prevention: Train employees to recognize and handle potentially fraudulent transactions effectively.