Originally Posted by
mandolino
The bank cancelled the transactions and the ultimate losers, unfortunately, were the small retailers.
You have no way of knowing that for sure.... And most likely you are wrong.
The bank cancelled your part of the transactions, but what they did on the merchants end is rather dependent on the contract they had. That £40 was probably something that was in the contract, no CC company expects all merchants to check every transaction. They do so based on generic rules like type of business, volume and average amount of transactions and can adjust that for previous frauds.