This type of "friendly fraud" might feel harmless and seem like a small drop in the bucket for powerful corporations.
But taken together with more nefarious forms of fraud, it's costing retailers more than $100 billion per year, according to Riskified , which published a new study on the problem on Thursday.
Riskified uses artificial intelligence and automation to fight fraud and boost revenue at major retailers including Wayfair , Peloton , Revolve and Canada Goose .
For the study, it surveyed over 300 global companies with more than $500 million in total annual revenue.
The firm found retail policy abuses, such as return fraud and using fake email addresses for promo codes, is rising for some retailers.
Persons:
Robert, there's, they've, Eido Gal, Gal
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Hulu, CNBC
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Long, , New York