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NRF: Return fraud to cost retailers $2.9 billion this holiday season
Washington, D.C. -- 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. Overall, retailers estimate 4.6% of holiday returns are fraudulent.
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‘Tis the season for ripping off retailers
Abuse of liberal return policies and enterprising thieves will cost the retail industry $8.9 billion this year, including $2.9 billion during the holidays alone.
The National Retail Federation arrived at those massive numbers after surveying loss prevention executives at 60 member companies who estimated that 4.6% returns made during the holidays are fraudulent.