Retail Industry Solutions: Fighting Return Fraud

 

It's after Christmas and consumers are lined up at stores to return merchandise- the scratchy sweater from Aunt Helen, the toaster oven that doesn't fit on the counter. But not all returns are legitimate and return fraud costs Retailers billions of dollars every year- $8.9 billion dollars according to the 2012 Return Fraud survey conducted by the National Retail Federation (NRF). NRF surveyed senior loss prevention executives at 60 retail companies. Even with less than 5% fraudulent returns at the holidays, this totals $2.9 billion dollars in fraud.

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