Content about Fraud

November 10, 2011
NRF survey: Return fraud to cost retailers $3.5 billion this holiday season

According to the National Retail Federation’s annual Return Fraud Survey, completed by loss-prevention executives at 103 retailers, the retail industry will lose an estimated $3.5 billion to return fraud this holiday season, down from $3.7 billion last year.

October 18, 2011
Retail crime cost U.S. retailers $41.7 billion in 2011

Shoplifting, employee or supplier fraud, organized retail crime and administrative errors cost the retail industry $41.7 billion in the United States in 2011, representing 1.6% in sales, according to the Global Retail Theft Barometer released Tuesday by Checkpoint Systems.

September 13, 2011
Retail fraud incidence down, but dollar impact escalating

For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study released Tuesday by LexisNexis Risk Solutions.

September 6, 2011
Former Duane Reade CFO Tennant gets probation in securities fraud case

Former Duane Reade CFO William Tennant was sentenced to three years of probation for his securities fraud conviction in June 2010, according to published reports.

August 22, 2011
Former Duane Reade CEO Tony Cuti gets three years in prison for fraud

Former Duane Reade CEO Tony Cuti was sentenced on Monday to three years in prison in connection with accounting fraud at the New York-based drug store chain.

February 18, 2011
Task force takes down Medicare fraud schemes

The Medicare Fraud Strike Force on Thursday charged 111 defendants in nine cities — including doctors, nurses and healthcare company owners and executives — for their alleged participation in Medicare fraud schemes involving more than $225 million in false billing. The operation marks the largest federal healthcare-fraud takedown.

September 27, 2010
Fraud losses decline among retail merchants but still remain high

Retail merchants incurred more than $139 billion fraud losses during the past year, according to...

July 19, 2010
PCMA responds to government funding anti-fraud programs

The leader of a group representing the nation’s pharmacy benefit managers responded to a House...

June 8, 2010
Former Duane Reade executives found guilty of fraud

Former Duane Reade CEO Tony Cuti was convicted Tuesday of conspiracy and securities fraud, according...

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