Tag

Retail Fraud

All articles tagged with #retail fraud

business4 days ago•9 min saved

Tap-to-pay fraud fuels cross-border gift-card crime, police warn

Chinese-organized crime rings are using stolen credit cards with tap-to-pay to buy gift cards at retailers, then laundering the value or reselling high-value goods abroad; the schemes span multiple stores, rely on digital wallets and app exploits, and are aided by social engineering and online marketplaces. Law enforcement’s Project Red Hook and a pending Combating Organized Retail Crime Act aim to tighten information sharing and curb these digital retail crimes.

via CNBC|

#business #cybercrime #gift-cards

finance2 years ago•2 min saved

"Morgan Stanley Appoints Jeff McMillan as Head of AI Ahead of Stock Market Opening"

The Dow Jones Industrial Average fell on Thursday due to hotter-than-expected inflation data, while Morgan Stanley appointed a head of firm-wide artificial intelligence and SpaceX's Starship rocket completed a successful test flight. Retailers are facing billions in losses due to organized refund fraud, and a report shows that a significant portion of charitable giving comes from ultra-high-net-worth individuals, impacting donation priorities.

via CNBC|

#artificial-intelligence #charitable-giving #finance

crime2 years ago•0 min saved

Police on the Hunt for Serial Thief Targeting Retailers and Hotels

Meridian Township Police are seeking the public's help in identifying two subjects wanted for questioning in a retail fraud investigation. No further details have been provided, and anyone with information is urged to contact Officer Tyndall at (517) 853-4800.

via WILX|

#crime #investigation #meridian-township

crime3 years ago•1 min saved

Organized retail crime ring busted for $4 million food stamp fraud in Detroit.

Three suspects have been charged in a $4 million food stamp fraud enterprise at Detroit-area Sam's Clubs. The criminal organization, which includes both boosters and fencers, is made up of at least 10 individuals who used stolen EBT card data from residents in California, Washington, and Michigan to purchase merchandise. The defendants were arrested during eight separate raids executed last week and were arraigned on charges of conducting a criminal enterprise and multiple counts of food stamp fraud. The case was the first of Michigan's newly-created Organized Retail Crime Unit to achieve charges, and more arrests are expected.

via FOX 2 Detroit|

#crime #criminal-enterprise #food-stamp-fraud

crime3 years ago•1 min saved

Lansing Police Officers Face Retail Fraud Charges at Meijer Stores.

A Lansing police officer has been charged with retail fraud and organized retail fraud for his alleged involvement in a "price switching" scheme at Meijer stores. Officer Gregory Tracy is accused of switching the price on boxes of sports cards for lesser valued items and then attempting to sell the higher valued cards to others. The alleged scheme defrauded Meijer of more than $10,000. The Michigan State Police Fraud Investigation Unit found evidence of more than 65 separate incidents across several counties. Tracy has been placed on paid administrative leave and is scheduled for a probable cause conference and preliminary exam in May.

via Lansing State Journal|

#crime #lansing #meijer