Refund fraud schemes promoted on TikTok, Telegram are costing Amazon and other retailers billions of dollars
Publishing timestamp: 2024-03-14 13:05:45
Summary
Refund fraud groups are exploiting lenient return policies of retailers, costing them billions of dollars. These organized groups trick retailers into refunding customers without returning the purchased items, leading to significant financial losses. Retailers like Amazon are taking legal action against these fraud rings, but the problem persists as similar groups continue to operate. Retailers are tightening return policies and using technology to combat refund fraud.
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