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Refund Fraud Schemes Promoted Online Are Costing Amazon and Other Retailers Billions
Refund fraud groups are exploiting lenient refund policies, resulting in significant losses for retailers like Amazon and prompting civil lawsuits and arrests. The scheme has become so pervasive that groups now market their services on Reddit, TikTok and Telegram. CNBC reports: Fraud groups are tak...
In December, Amazon filed a lawsuit against Page and 47 other people across the globe with alleged ties to Rekk, accusing them of conspiring to steal millions of dollars worth of products in a refund fraud operation. An Amazon spokesperson said the company is addressing the issue "head on" through specialized teams and machine learning tools that detect and prevent refund fraud. Here's how it works: A shopper buys a product online and sends the order information to a group such as Rekk, which then poses as the customer in requesting a refund.
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