INDIANAPOLIS (WISH) – When we are busy looking for deals, the fraudsters are out looking to prey on shoppers.
Jane King was live at the Nasdaq with this story and more for your business watch.
Adam Levin of IDT 911 says only use official retailer apps, you can look for spelling errors as red flags on fake ones. When shopping online, avoid public unsecured public Wi-Fi like in a café.
The Chicago Tribune reports that retailers across the country have begun combating fast-growing return fraud that accounted for nearly $2 billion in losses last holiday season.
Retailers specifically will be looking for “hot exchange,” where a thief returns a stolen item for money.
Similarly, the “renting” or “wardrobing” scam involves a customer purchasing a product, including dresses, jewelry, or other apparel items and wearing it and then returning it soon after for a full refund.
Another technique is colluding, when a thief works with someone on the inside to falsify a return.
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