Retailers Experience A Rise In Online Fraud, Theft This Season
By Anthonia Akitunde in News on Dec 13, 2009 8:00PM
In a recessionary holiday season, one expects a few cuts here and there as many engage in more discretionary spending. But this season Chicago retailers are seeing an increase in behavior that cuts into their bottom-line: theft.
"Shoplifting and credit card fraud have risen beyond pre-recession levels,"
Crain's Chicago Business reports. Retailers nationwide stand to lose $2.7 billion in return fraud; in some cases, thieves buy clothes from stores and online with a stolen credit card and go to the store to return the items for cash or exchange them for something new. These ne'er-do-wells are also empowered by new technology that makes it harder for retailers to deter their crimes, the report said. Already dealing with the reality of fewer customers buying goods, some area retailers are either left holding the bag or spending more on security and technology to keep an eye on potential thefts.