Image 2: A fake receipt vendor advertises an image of an allegedly counterfeit physical store receipt for a $201.90 entertainment/electronics purchase from a major U.S. However, fake receipt vendors are often capable of targeting a variety of companies and are able to adjust their tactics, techniques and procedures (TTPs) in response to customer concerns and demands.
Fake receipts typically target retailers that sell technology products, and they are often available for fewer than $10 USD per receipt. These actors are capable of producing counterfeit receipts in a variety of formats, including physical store receipts, packing slips, and digital receipts. After finding a reliable refund vendor, forum members will often become repeat customers, requesting refunds from a variety of companies the vendor targets.įlashpoint analysts have also observed numerous vendors advertising fraudulent receipts for sale on the DDW. Indeed, satisfied customers have been known to leave positive reviews accompanied by screenshots of emails sent by impacted stores issuing refunds. Successful refund vendors have gained loyal followings within their cybercriminal communities. The email indicates that the client received a $512 refund after using the vendor’s social engineering services to convince the retailer that they had purchased a package that was never delivered. Image 1: A screenshot shared by a client of a DDW refund fraud vendor showing an email reply from the customer service team of a high-end clothing retailer. Since accomplishing a successful refund depends more on a vendor’s social engineering skills than on bypassing any particular type of anti-fraud measure, many vendors offer refunds for a variety of companies. These vendors offer their service in securing fraudulent refunds on behalf of clients. Refund fraud is openly discussed on the underground forums of the Deep & Dark Web (DDW), where illicit vendors offering fraudulent refund services are commonplace. Thus, the fraudster receives their chosen product at no cost. For example, fraudsters may claim they never received the item, received an empty box, items were missing from their shipments, they received the wrong item, or the item arrived in a damaged state. After delivery, the actor falsely claims that there was an issue in the delivery of the product, prompting the company to issue a refund. Refund fraud is a pervasive form of merchant abuse in which a threat actor purchases a product from an online store and has it shipped to their home or a drop site. Unfortunately, these policies can be susceptible to various forms of merchant abuse. Reach out for a demo on how we can help you learn more about consumers and customers to grow your business.ĮARN MORE OF WHAT YOU LOVE.Recognizing customer satisfaction as a key driver of retention, many retailers have implemented generous refund or replacement policies. Watch the full video to learn more about why it is so important to challenge the current industry approach to evaluating ROI and the value it has related to measuring investments more accurately.Ĭonnect with the team at Fetch Rewards to learn about driving incremental ROI, first-party data strategy, and more.
Fetch’s application of holdouts and use of 1st party purchase data from over 13 million monthly active users is disrupting the analyses, yielding a more accurate, real-time result.
The discussion focuses on the inherent flaws with traditional ROI measurement that has been the industry standard for decades. The first roundtable discussion brings together a diverse group from our leadership team – Wes Schroll, Founder & CEO, Pat Burke, Chief Revenue Officer, David Berk, Group President of Product & Technology, and Nupur Sadiwala, Chief Financial Officer – to talk about the history, the future, and the facts of determining an accurate ROI. Fetch Rewards is launching a new B2B content series called Fetch Focus that features our people from the Fetch Fam and subject matter experts discussing consumer, category, and retailer perspectives that are challenging the status quo for the better.
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