Return fraud is the act of deceiving a retail store through a process of return. There are various ways in which this crime is committed. For example, an offender can return a stolen item to secure cash, or steal a receipt or receipt to allow forged returns, or use another person's receipt to try to return items taken from the store shelf. Reuse is a form of "friendly deception" in which a person buys a product without intending to keep it. Perhaps the most popular form of abuse is "wardrobing" or "free renting" - where the person makes a purchase, uses the product, and then returns the merchandise.
The retail industry is experiencing significant fraud and misuse problems, losing money in the $ 50 billion per year range. The 2015 report published by the NRF says total merchandise returns totaled more than $ 260.5 billion in lost sales to US retailers by 2015.
The issue of retail fraud has caused retailers to raise prices for buyers to offset and recover their losses from fraudulent results. Or, many stores have made stricter return policies like "no receipt, no refunds" or restrictions on the payback time charged such as the 30 day limit on all returns that affect all buyers.
A certain percentage of items returned should be marked or removed to sell the product. Once returned, out-season clothes may have to be placed on the sales rack, for example. Or the retailer may be forced to dispose of items such as underwear that is returned for sanitary or health reasons.
Video Return fraud
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Some examples of fraud and abuse issues include:
- Alienate or rent : Purchase merchandise for short-term use with the intention of returning items, such as a dress for a special occasion, video cameras for wedding and wedding or widescreen television for Super Bowl.
- Returns stolen merchandise : Shoplifting for the purpose of returning the goods at full price, plus any sales tax.
- Fraudulent receipts : Utilize receipts that are reused, stolen or forged to return merchandise for profit. Or, return items purchased at a discount or from a different store at a lower price in order to profit from the difference.
- e-receipt scams : Utilize electronic receipts issued when buying goods online, but return them at the store, to return merchandise for profit. Variations of receipt fraud using e-receipt.
- Employee fraud : Help from employees to return stolen goods at full retail price.
- Price switching : Placing a higher priced label on merchandise with the intention of returning the item at a price higher than the purchase.
- Arbitrage price : Buy goods at different prices, but items that look similar and return cheaper items as expensive items.
- Replace fraud : Purchase a functioning item, and return the identical item that has been damaged or damaged already owned.
- Bricking : Purchase a functioning electronic item, and intentionally destroy or disarm the valuable component to make it unusable, then return the item for profit.
- Cross reseller returns : Return or exchange items purchased at other resellers (usually at a lower price) for cash, store credit, or similar goods at a higher price at other retailers.
Historically refund policies serve as the primary means for resellers to combat fraud and reuse; The challenge is to keep the policy not too tight and/or interpreted inconsistently, both of which can hamper loyal customers and affect purchases. Separately, automated solutions have also been developed to help combat fraud and abuse, including software programs that detect such behavior and help resellers determine whether the return is valid. This software program allows retailers to maintain a reasonable price for consumers, maintain a soft return policy for good customers, and offer better and more consistent customer service. Reducing fraudulent and abusive results helps retailer financial situation by lowering costs, maintaining net sales, reducing depreciation, while still providing better service to their buyers.
Maps Return fraud
See also
- Claude Allen, assistant to US President George W. Bush who resigned after being arrested for re-fraud
References
External links
- National Retail Federation
- The Institute for Prevention of Loss
- Dr. Mark Rosenbaum and Dr. Ronald Kuntze The relationship between anomie and unethical retail disposition
Source of the article : Wikipedia
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