The 5 Core Methods Used to Commit Refund Claims Fraud Online ....and "Casual Fraud??"

Fraudology is presented by Sardine.

This week, we've switched up the schedule to keep the episodes on refund claims fraud (refund fraud) consecutive. So while we'll learn from a fraud-fighting veteran on Thursday, today is a solo episode.

Today, host Karisse Hendrick will walk you through the 5 core methods (or categories) that Refund Claims Fraudsters exploit, with examples of at least one variation of each method.

But first, she clarifies a topic that she & Dajana discussed in last week's episode: Refund abuse vs. refund claims fraud. While there are some publications & experts saying that the steep increase in refund claims is all due to your customers, that's not the full picture. That's why the 1st step to reducing & preventing excess customer claims is to better understand them through an in-depth analysis process. And, because abuse and fraud are two very different intentions, the solutions are also different. Also, what the heck is "Casual fraud"?? Is this a term YOU plan to use?

Karisse then highlights the 5 methods used by "refunders" (professional or DIY) to exploit the customer claims process at each retailer. She walks through the type of claims in the order that retailers experience these types of losses; from the easiest/least amount of effort to the methods that may take extra time and/or additional costs. They will never stop at one claim. So, if the high volume of INR claims are slowing down within your company, be on the lookout for claims of customers receiving empty boxes or missing items.

Karisse also stresses the importance of creating a full-spectrum strategy that streamlines the process for good customers, provides continual data & insights to track new trends, and allows a way to review & deny the most suspicious claims.

***A reminder: If you're interested in being on the waitlist to be notified once registration for the course that Karisse & Dajana have created to better understand more of the details (that couldn't be shared here), nuances, and their framework for creating a process to greatly reduce your refund claims fraud, sign up here:

https://forms.gle/a1vsWNfs7qe5GdbS8

Mentioned in this episode:

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