I have a question regarding ACH debit transactions (funds from customer to merchant). I have read that the customer can initiate a chargeback within 60 days of the transaction. It also said that the merchant cannot defend against this. If the chargeback occurs, the merchant account will be debited and the funds returned to the customer. The merchant can then go to dispute resolution (whatever that is) to try to get his funds back.
I am concerned about fraudsters and con artists taking advantage of this. It sounds like a recipe for disaster. Can you comment on this.