Return Fraud To Cost Retailers $2.9 Billion This Holiday Season, According To NRF Survey
Return fraud costs retailers billions of dollars every year in the form of criminals who return stolen merchandise, use counterfeit receipts, or even return items already worn and/or used that are not defective. According to NRF's 2012 Return Fraud Survey*, completed by loss prevention executives at 60 retail companies, the industry will lose an estimated $8.9 billion to return fraud this year, and $2.9 billion during the holiday season alone. Overall, retailers estimate 4.6 percent of holiday returns are fraudulent.
"Return fraud comes in a variety of forms and continues to present challenges