Scam Alert: Expect More Online Returns This Holiday Season
A holiday-related crime spree is ramping up and chances are you won’t even notice, but many local shopkeepers already are standing guard. It is called return fraud, and it’s among the fastest-growing and most expensive problems confronted by stores of all types and sizes. Last year, return scams clipped U.S. retailers for nearly $2 billion nationally during the year-end holiday selling spree and for about $15 billion annually, according to industry data. Despite greater retail prevention efforts, few will be surprised if this year’s total creeps higher. Why should you care if some stores are getting ripped off? Here’s why: Return swindles translate into millions of dollars in lost or uncollected Illinois sales tax revenue, adding to the average taxpayers’ burden. On top of that, be assured that retailers will make up their losses at your expense. Read more at Chicago Tribune.
