After finding a reliable refund vendor, forum members will often become repeat customers, requesting refunds from a variety of companies the vendor targets.Īs analysts of business risk intelligence, we have 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 actor received a $512 refund after using the vendor’s social engineering services to convince the retailer that they had purchased a package, but it was never delivered. Image 1: A screenshot shared by a client of a DDW refund fraud vendor showing an email replynfrom the customer service team of a high-end clothing retailer. Equally these criminals are starting to not only gather mass following among those who want to copy their crimes but are also setting up “specialist” services to help these followers do just that. The potential loss when you take into consideration fraudulent vouchers, fake goods and account take over, almost doubles.Ĭyber criminals’ capabilities are further advancing with digitalisation and they are now pursuing bigger and more advanced targets. Research shows that online retail businesses lose approximately £500,000 per month due to fraudulent refunds. Thus, the fraudster receives their chosen product at no cost. After delivery, the actor falsely claims that the product never arrived, prompting the company to issue a refund. Refund fraud is a pervasive form of merchant abuse in which an actor purchases a product from an online store and has it shipped to their home or a drop site. Many online retailers have implemented generous refund or replacement policies to help improve the customer journey and generate loyalty, but unfortunately, these policies can be susceptible to various forms of merchant abuse.
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This is where recognising customer satisfaction as a key driver of retention is critical.
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