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Retailers gear up for return fraud .................................... WJACTV ....................... Mar 11, 2015 Reported by: Jackalyn Kovac JOHNSTOWN, Pa. " With those good deals on the day after Christmas sales, gift returns can be a hassle for some retailers, especially if the item being returned was stolen. According to the National Retail Federation's 2014 return fraud survey, retailers estimate $3.8 billion will be lost to return fraud this holiday season. "A fraudulent return is either something that was not purchased here and the customer would like to return it here," said James Millsap, general manager of Best Buy in Johnstown. "Another fraudulent return could be someone taking an item from another customer and also trying to return it, even though it was bought here." According to the survey, more than 90 percent of the retailers said they have experienced the return of stolen merchandise in the last year. As more shoppers look to digital receipts for ease and convenience, retailers are noticing increasing return fraud instances with e-receipts. According to the National Retail Federation, one of the biggest issues for retailers is the practice of "wardrobing" where used or non-defective items, like special occasion clothing or electronics, are returned. No matter how it's done, paying customers are ultimately paying for those returns. "They have to wait in those long lines with us hassling with these fraudulent returns," said Millsap. "A lot of times, people make a scene and we want everyone to have a good time when they come in here." Many retailers try to make up the difference in cost by cutting staff hours or raising item costs. Most retailers now require identification along with a return. ................................. Posted on TSMJ on 03/23/23 ....................................Source WJACTV/Youtube/Bing Images ......................

Upper West Side supermarket's anti-theft solution draws concern ................................. Eyewitness News ABC7NY .................................Youtube......... Mar 17, 2023 #nyc #fairway #facialrecognition A New York City Fairway market sparks concern over its facial recognition technology used to put an end to shoplifters. Lauren Glassberg has the story. Read More: https://abc7ny.com/nyc-fairway-facial... ....................................................... Posted on TSMJ on 03/23/23 ...........................Source ABC7NY -Youtube-Bing Images ...................

Silicon Valley Bank Collapse .................................... FOX 5 San Diego ............................ Mar 11, 2023 ........................... Jaime Chambers reports on the downfall of the nation’s 16th-largest bank. STORY: https://fox5sandiego.com/news/busines... ..................................................... 2nd VIDEO ............................................................................................ Customers scramble for money after collapse of Silicon Valley Bank ................................... CBS Boston ....................................................... Mar 10, 2023 ........................... It's the largest bank failure since 2008. WBZ-TV's Tammy Mutasa reports. ..................................... 3rd Video....................................................... SVB Collapse: What's Next? ............................... Bloomberg Television ............................. Mar 10, 2023 .................................................... Bloomberg's Sally Bakewell looks at what could happen to Silicon Valley Bank now that the Federal Deposit Insurance Corp. has taken over as receiver. Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbus... Instagram: https://www.instagram.com/quicktake/?... ........................................................ Posted on TSMJ on 03/11/23 .........................