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.Friendly fraud encompasses:- Dissatisfied customers who don't find refuge in a refund policy/process- Customers who are embarrassed by their purchases. This situation is commonly triggered when a significant other reads a credit card statement.- Customers who spend beyond their means, and then look for a "solution" when the statement comes dueI 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.Friendly fraud is specifically about charges that are agreed by the card holder, but they later change their mind and pretend otherwise.