Boston Public Library
Kirstein Business Library

Second Floor, McKim Building, Central Library, 617-859-2142

Retail Return Fraud Prevention

by Betsey Lippmeier

retail fraud

 

According to the National Retail Federation’s 2012 Return Fraud Survey, completed by loss prevention executives at 60 retail companies, the industry lost an estimated $8.9 billion to return fraud last year.

 

 

 

 

returnfraud

 

The Retail Equation (TRE) is contracted by many retailers to authorize returns. TRE’s Verify Return Authorization System is designed to identify the 1 percent of consumers whose behaviors mimic return fraud or abuse. It is used by 11 of the Top 50 retailers in the US and 6 retailers in the Fortune 500.  Overall, it is used by  over 27,000 stores.

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