Retail Industry

Fraud has been increasing year over year for more than a decade. 2023 saw more than $210 billion in losses by US companies. Retailers are particularly exposed.

The retail industry has long been been victimized by fraud. Whether through counterfeit payments (chargebacks) via credit cards, personal checks, and cash; return receipt fraud; or in-store credit application fraud; retailers have been a key target of fraudsters.

Retail stores can easily have their profits wiped out by retail fraud. A store can experience counterfeit transactions – including fake currency, credit cards and checks (either personal, cashier’s, gift or travelers checks) – or they can be victimized by counterfeit identities. Many such activities are small fraudulent transactions that are easy to overlook, but can add up to huge cumulative losses given the thousands of transactions a single store might experience.

Fraud No Longer a Cost of Doing Business

But, it is no longer a necessary "cost of doing business" to allow these criminals to steal your hard-earned profits.  This can be avoided by making sure that all forms of payment and identity documents are authentic and fraud-free  during every transaction. Our line of counterfeit detectors check payments and identity documents for their invisible security features using very simple, but effective, technology.

UVeritech Fraud Fighter™ solutions have helped retailers of all types and sizes increase fraud prevention not just in traditional transaction and identify fraud but in these newer, rampant coupon and return frauds.

Faster Checkout - Fewer Management Reviews

Fraud Fighter™ delivers solutions that stop fraud at the critical point of sale. At the same time, results have shown an increase in check out times as well as a heightened deterrent to shoppers who might attempt a fraudulent act. Without any adverse impact to the customer experience, FraudFighter's solutions address the needs of retailers that have site–specific processing requirements - for example, retailers that handle age–restricted sales or controlled substance sales have specific needs that other retailers may not have. 

Credit Applications and Federal Regulations

Of course, retailers who are also issuers of credit need to comply with regulations such as FACTA and the ‘Red Flag’ rules.

Read more about fraud and how to prevent it by selecting your industry below.