Retailers say "return fraud" costs them billions

01/2/2013 | Bloomberg Businessweek

Retailers are getting ready for a rush of post-holiday product returns, with nearly one in 20 expected to be fraudulent. Such returns, in which customers return used or stolen items or produce counterfeit receipts, cost retailers about $8.9 billion a year, with almost 30% of fraud occurring during the holidays, according to a survey of retailers.

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