The fraudulent redemption of freebies, discounts, and rebates in the form of coupons is reportedly costing U.S. businesses $300–600 million every year. And where there’s money to be made, there are cybercriminals rustling up schemes to take advantage of it. Unsurprisingly, that was the case when it comes to coupon fraud, which we found to be rife and thriving in the underground.
What does coupon fraud mean for businesses? In 2012, major manufacturers were victimized by counterfeit coupons, with one consumer goods corporation pegging its losses to around $1.28 million. Another coupon fraud scheme almost a decade in the making stole at least $250 million from companies.Read More