AI takes on return fraud as holiday returns surge

Data from Happy Returns, a UPS-owned reverse logistics company, shows that nearly one in every 10 retail returns in the United States involves fraud. Retailers now lose an estimated $76.5 billion a year to the problem. 

To slow those losses, Happy Returns, which specializes in boxless in-store returns for online purchases, is testing a new artificial intelligence tool that flags fraudulent returns before refunds go out.

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