Holiday return fraud costs retailers billions

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Net Patrol International Inc.  Data Investigation and Forensic Services
Bankruptcy and Insolvency Trustees

If holiday return fraud were a season line of work, it would be a billion dollar industry. It is the season to return unwanted gifts and receiving money for presents some folks didn’t purchase. Store employees are on extra high alert during the holidays.

Annual merchandise return fraud costs stores millions 

Ambiance Store Manager Meredith Garrett says the greatest deterrent to return fraud is human interaction. She uses cameras and keeps customer names in a database. Employees on the floor help the customer, making sure people know that they are everywhere in the store. As a store, make sure to always hands out receipts either in paper form or via email. Annual merchandise return fraud and abuse is estimated to be between $9.1 and $15.9 billion for the United States retail industry, according to the National Retail Federation. 

Read more at ABC News.

This article is summarized by Canadian Fraud News Inc.