Suspect Transactions Sample Clauses
The 'Suspect Transactions' clause defines the procedures and responsibilities related to identifying and handling transactions that appear unusual, suspicious, or potentially fraudulent. Typically, this clause requires parties to monitor for red flags such as irregular payment patterns, unexpected account activity, or transactions that do not align with the customer's known profile. Its core function is to ensure that potentially illicit or unauthorized activities are detected and addressed promptly, thereby helping to prevent fraud, comply with regulatory obligations, and protect the integrity of the business relationship.
Suspect Transactions. A new Section 2.01(M) is hereby added to the Terms and Conditions as follows: • The amount of the Charge, which must be the total price for the purchase of goods and services (plus applicable taxes and gratuities) purchased on the Card. • A clear description of the goods or services purchased by the Cardholder. • An imprint or other descriptor of you name, address, Merchant Account Number and, if applicable, store number. • The words “no refunds” if you have a no refund policy, and you return and/or cancellation policies.