A chargeback typically occurs when a buyer pays for something with a credit card, usually but not always, online. If something legitimate goes wrong with the purchase like the buyer's credit card is overcharged or the wrong item is received by the buyer, the buyer can call his credit card company and "dispute" the charge. If the credit card company sides with the buyer against the seller, the credit card company reaches right into the seller's bank account and deducts (chargeback) the money and sends it back to the buyer. This is all part of that fine, very fine print in the agreement to use credit cards. In this case it sounds like the system has gone completely berserk.
