Content about Fraud

April 26, 2013
Ex-Aeropostale executive found guilty on all 16 counts

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
Study: 45% of retailers have no online fraud prevention

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
NRF: Return fraud to cost retailers $2.9 billion this holiday season

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
Survey finds that retail fraud is taking a great financial toll

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
Securities fraud lawsuit against Best Buy dismissed

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
Forever 21 teams with Accertify toward fraud prevention

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
NRF survey: Return fraud to cost retailers $3.5 billion this holiday season

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
Ex-Carter’s exec charged with fraud

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
Survey: Most consumers concerned about online fraud

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
Retail fraud incidence down, but dollar impact escalating

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 gets three years in prison for fraud

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
Abercrombie & Fitch goes with Accertify for fraud prevention platform

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
Creating customer-centric service at the return counter

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
Survey: Credit-card fraud up in United States

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: E-commerce fraud picture stable in North America

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
NRF report: Holiday return fraud to cost retailers $3.7 billion

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

September 28, 2010
Walgreen selects Accertifly for online fraud prevention

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

September 13, 2010
Retail Equation receives patent for providing consumer warnings via return authorization systems

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

August 31, 2010
Focus on: Preventing Return Fraud

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

June 14, 2010
NRF survey: retail fraud, shoplifting rates down

A report released Tuesday by the National Retail Federation found that retail shrinkage decreased to...

June 3, 2010
Report: Couple guilty of defrauding Best Buy of more than $41 million

A federal jury on Thursday convicted an Illinois couple of defrauding Best Buy Co. out...

June 1, 2010
Report: Companies worldwide lose 5% of revenue to fraud

Organizations around the world lose an estimated 5% of their annual revenues to fraud, according...

March 29, 2010
Wet Seal says it was target of credit-card data theft ring

Wet Seal said late Monday that it was one of the retailers targeted by a...

January 5, 2010
Former Safeway manager charged with wire fraud

A former purchasing manager for Safeway was charged with two counts of wire fraud on...

October 29, 2009
Survey: Holiday-related return fraud to cost retailers $2.7 billion

According to NRF’s annual Return Fraud Survey, completed by loss-prevention executives at 134 retail companies,...

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