Home Posts tagged "return fraud"
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Couple Serving 5 Years for $1.2 Million in Friendly Fraud

An Indiana couple made over 2,700 purchases from Amazon over the period of a few years, creating new accounts and morphing their identities to continually report goods as damaged or never having arrived. The professional fraudsters stole more than $1.2 million in electronics, but now each face more than five years behind bars. Erin and

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Return Fraud Statistics from the NRF

The National Retail Federation estimates that return fraud cost merchants $14.37 billion in 2011 up from $13.66 billion in 2010. In a survey of over 100 retailers the NRF found that return fraud affects an overwhelming majority of merchants through various types of friendly fraud schemes. Read More

 
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Best Buy Using Shared Return and Exchange Data to Prevent Friendly Fraud

In efforts to combat merchandise return fraud retailer Best Buy has instituted a system where they scan an identity document when someone makes a return in-store. If the person has suspicious return and exchange habits they may be blocked from making future returns for 90 days. Read More

 
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