refund fraud

Refund fraud could be costing retailers over £5bn

Refund fraud could be costing UK online retailers up to £5.76 billion a year, according to new research from the University of Portsmouth, funded by fraud prevention service, Cifas. The research found fraudsters have been using these channels to openly share techniques, target retailers, and sell fraudulent refunds as a paid service. Some ‘refund‑as‑a‑service’ vendors…