UK businesses face rising “friendly fraud” charges, where customers falsely dispute credit card purchases for refunds, harming small firms financially. Affected owners, like Rusty Nart, report significant losses despite attempts to investigate fraud. “Friendly fraud” costs UK businesses £551.3m in 2023, amid an increasing trend driven by economic pressures. Experts advise businesses to adopt prevention strategies, emphasizing meticulous record-keeping and customer communication to mitigate fraudulent claims.
