Content about Fraud

July 23, 2014

Police arrested six people on charges they were tied to an international ring that defrauded StubHub, the online ticket resale platform operated by Ebay.

June 24, 2014

One-in-four global consumers has been victimized by card fraud in the past five years.

January 27, 2014

Merchandise returns in 2013 cost U.S. retailers more than $267 billion in lost sales.

December 6, 2013

The retail industry will lose an estimated $8.76 billion to return fraud this year, and $3.39 billion during the holiday season alone, according to the National Retail Federation’s 2013 Return Fraud Survey.

June 26, 2013

Former Duane Reade CEO Anthony Cuti and CFO William Tennant failed in an attempt to have their 2010 convictions for securities fraud overturned.

April 26, 2013

Christopher Finazzo, 57, who was an executive VP and chief merchandising officer at Aeropostale, was found guilty on Thursday of 14 counts of mail fraud, one count of wire fraud and one count of conspiracy.

March 29, 2013

Forty percent of retailers have no online fraud prevention in place, despite the fact that 85% consider online fraud prevention a high priority, according to a survey by ThreatMetrix, a provider of integrated cybercrime prevention solutions.

December 4, 2012

Retailers will lose an estimated $8.9 billion to return fraud this year, and $2.9 billion during the holiday season alone, according to the National Retail Federation’s 2012 Return Fraud Survey.

September 18, 2012

The “True Cost of Fraud” study by LexisNexis found that retailers incurred $2.70 in costs for every dollar in fraudulent transactions.

March 21, 2012

Best Buy Co. said that the U.S. District Court has dismissed putative securities fraud class actions against the retailer and three of its officers.

March 15, 2012

Fraud prevention and risk management provider Accertify said that Forever 21 will deploy its fraud prevention solution, customized to the retailer’s e-commerce business.

November 10, 2011

Survey results released Thursday by the National Retail Federation found that fewer retailers expect return fraud rates to grow this holiday season, due in part to stronger checks and balances and to enhanced return policies.

September 27, 2011

U.S. prosecutors have charged former Carter’s senior VP Joseph Elles with securities fraud, according to a report by the Associated Press.

September 20, 2011

A survey released Tuesday by ThreatMetrix and The Ponemon Institute found that the majority of consumers have real concerns about online fraud.

September 13, 2011

For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study released Tuesday by LexisNexis Risk Solutions.

August 23, 2011

Former Duane Reade CEO Tony Cuti was sentenced on Monday to three years in prison in connection with accounting fraud at the New York-based drug store chain.

March 23, 2011

Accertify, a provider of software, tools and strategies for preventing fraud and a subsidiary of American Express, announced that Abercrombie & Fitch has implemented its Interceptas fraud prevention platform to enhance the retailer's ability to protect against credit card fraud in its direct-to-consumer business.

February 23, 2011

More and more retailers are seeking innovative ideas to deliver customer service excellence at the return desk in an attempt to set them apart from the competition and make a first-rate impression with consumers.

February 11, 2011

One-third (29% ) of consumers across eight major economies have been victims of credit-card fraud in the past five years, according to the 2010 Global Card Fraud Survey by ACI Worldwide, an international provider of payment systems.

January 18, 2011

Survey results released Tuesday by CyberSource, a Visa Co., showed that the online fraud rate has remained flat in the United States and Canada; however, U.K. merchants are seeing a rise in e-commerce fraud.

November 8, 2010

A report released Tuesday by the National Retail Federation said that the retail industry is...

September 28, 2010

The Interceptas platform by Accertify has been selected by Walgreen Co. for preventing online credit-card...

September 13, 2010

The Retail Equation, an industry leader in retail transaction optimization solutions, received an important patent...

August 31, 2010

Return fraud and abuse is a year-round challenge, with estimates of industry losses ranging...