Return Fraud to Cost Retailers $3.5 Billion This Holiday Season
Source: National Retail Federation

Shoppers taking back a too-small sweater or a duplicate gift will not be the only ones standing in return lines on the day after Christmas. According to the National Retail Federation’s inaugural Return Fraud Survey, completed by retail executives, criminals commonly take advantage of companies’ return policies to receive cash for stolen merchandise, launder money or return an item after it has been used.

The losses are staggering: according to the survey, retailers can expect to lose $3.5 billion from return fraud this holiday season. This year, the retail industry stands to lose $9.6 billion from this immoral, and often illegal, practice.

+ Full Report (PDF; 34 KB)

This entry was posted on Thursday, November 2nd, 2006 at 10:07 am and is filed under Business and economics, Crime. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.