3 Ways Retailers Can Prevent Cyber Monday Return Fraudlily.lopate_dRm5
Return fraud escalates around Cyber Monday. In fact, fraudulent returns are expected to account for 16.5% of retail returns across the 2024 holidays— a nearly 3% jump from the annual average fraud rate. Fraud cost retailers $101 billion in 2023, according to National Retail Foundation (NRF) data. But retailers aren’t defenseless.
Just as return fraudsters use different tactics to pull the wool over retailers’ eyes, stores can use different tactics to avoid fraud without having to resort to prohibitive policies. Here are three strategies retailers can use to mitigate Cyber Monday return fraud.
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