An experienced professional that has played key roles in designing, executing and analyzing projects for the international business to business and business to consumer markets, especially in the financial services IT arena. An excellent communicator able to translate jargon and IT-speak into clear concepts and ideas for non-technical management or board members.
Expert on Payment Systems for Global Marketplace including traditional payment networks credit debit methods as well as emerging alternative payment methods and mobile applications. On all matters from Treasury to Processing, my 15 years of experience and professional references make me an excellent resource for advice with your next payments project.
In order to hold funds the minimum permissive structure would be to get licensed as an escrow company and setup a bank account specifically for the escrow funds that were not part of your operational funds. Most lawyers could provide such a service if it were sufficiently profitable to them. You would need to check into licensing for escrow companies in your local jurisdiction to be compliant. You should certainly not be trying to make any kind of interest or "money on the money" without proper licensing to do so.
First we should define what is considered fraudulent. Chargebacks can occur for many reasons. They even have specific reason codes which you can define response procedures for. However there is no centralized version of Cardholder MATCH or TMF available for merchants to filter against and it would be so subjective as to be useless for practical purposes.
There used to be a private site called badcustomer which attempted to police the friendly fraud type customers by creating such a central database. However this was undermined by the creator who used to offer the option for bad actors to pay to have their name removed!
Most merchants handle it in their own way. Your realistic options are.. Implement the anti fraud controls suggested by the previous contributor (AVS, CVV etc..) In addition you could enable 3D-Secure (Verified by Visa or Mastercard Securecode) This would in some cases shift the liability for a chargeback away from the acquirer to the issuer.
In terms of buyers remorse / friendly fraud chargeback situations.. The best thing to do is to try and get ahead of the game. There are services that can now report chargebacks to the merchant before they are received at the acquirer. This enables the merchant to be pro-active and reach out to cardholders to resolve the relevant issue either by the cardholder canceling their chargeback request or the merchant issuing a refund PRIOR to the chargeback being received