Return Fraud

$15 Billion

in annual losses for retailers due to fraudulent or excessive returns.

8.8%

the average return rate in retail across channels

25%

of retailers are determined to launch more stringent return policies to attempt to contain fraud

Performance

After the transaction

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Return fraud costs all merchants as much as $15 billion and include such schemes as returning stolen merchandise for cash, stealing receipts or receipt tape to falsify returns, and “wardrobing” or “free renting,” where consumers purchase, use, then return an item.  This behavior can be largely stopped by unifying POS or e-commerce purchasing data, merging it with the return event details, then applying a combination of machine learning, geolocation analysis, anomaly detection and in-store/website business rules.

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Return Fraud and Policy Abuse

Most stores’ internet retail operations do not have the same return policy as their brick-and-mortar operations. They often have different processes to dealing with products being returned and put back into inventory.  These gaps in controls open up opportunities for fraudsters to exploit your processes.

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Unlock Extraordinary Opportunities

Deep in the terabytes of data your organization produces every day, there are hidden, potentially game-changing, insights.

Unifying data and extracting intelligence is now possible using modern technology. Deep dive into your business with more granularity than you thought possible. Innovations will become clearer and strategies will become more obvious.

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