Fighting Refund Fraud With Biometric Security
Every year after the holidays, retailers are bombarded with a wave of returns and refund requests from gifts gone awry. But how do you know whether a return is legitimate, or part of an organized fraud ring designed to siphon thousands of dollars from your business? How do you know that package "lost in the mail" isn't the sixth incident of its kind in the past 48 hours? How do you know the customer returning a "damaged" device hasn't removed a key component and sold it online?
Without the proper tools, it can be nearly impossible to identify fraud at scale and prevent losses. That's where biometrics come into play. Intelligent fraud detection solutions powered by biometrics give your fraud team the ability to spot patterns across engagements and stop fraud at the source, whether it happens in the contact center with a live agent, in your IVR, or through digital messaging. They also give you the intelligence required to investigate specific cases and even successfully prosecute criminals.
Join our webinar with Danny Ross, Senior Fraud & Biometrics Specialist from Nuance Communications, to learn how you can stop reacting to fraud and start taking the fight to the fraudster.
Learning Objective:
After attending this webinar people should learn how they can stop reacting to return fraud and start taking the fight to the fraudster.
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With 1 in 6 online purchases returned, merchants saw $212B in returns, of which, 10.7%, or $22.8B, were fraudulent*.
Online returns have enabled fraudsters to exploit policy loopholes and illegitimate returns are now a complicated issue merchants are facing taking on various forms, such as manipulating a shipping label, returning a different item than originally purchased or claiming the item was never received.
Accertify's C.A.R.E. - Claims, Adjustments, Returns and Exchanges - is a purpose-built solution that detects fraudulent patterns in shopper behavior.
Join this webinar to hear all about the launch of C.A.R.E. and how merchants can monitor, measure and act to prevent future abuse.
Learning Objectives:
- Introducing C.A.R.E. – Claims, Adjustments, Returns and Exchanges – a purpose-built solution by Accertify that detects fraudulent patterns in shopper behavior.
- Hear all about C.A.R.E. and how merchants can:
- Monitor, measure and act to prevent future abuse.
- Use aggregated data to gain insight into a purchase and transaction.
- Implement policies and controls to identify fraudulent returns.
- Benefit from Accertify’s community data to help solve this growing problem.
*Customer Returns in the Retail Industry 2022 PDF.
