Facebook Let Kids Rack Up Charges on Parents' Credit Cards
"Friendly fraud" is not a Facebook-invented term. It's a term used and understood by card issuers, acquirers, and merchants.<p>Friendly fraud encompasses:<p>- Dissatisfied customers who don't find refuge in a refund policy/process<p>- Customers who are embarrassed by their purchases. This situation is commonly triggered when a significant other reads a credit card statement.<p>- Customers who spend beyond their means, and then look for a "solution" when the statement comes due<p>I find it weird the way Facebook seems to be using the term here. These are charges that were never contemplated by the cardholder. There is no "buyer's remorse" dimension.<p>Friendly fraud is specifically about charges that <i>are</i> agreed by the card holder, but they later change their mind and pretend otherwise.