Voice of the Industry

Riskified 2024 report key takeaways – Returns, refunds & exchanges: How to stop good customers from paying the price of policy abuse

Friday 23 May 2025 08:41 CET | Editor: Irina Ionescu | Voice of the industry

Irina Ionescu, Senior Editor at The Paypers, discusses the key takeaways of Riskified’s 2024 report focusing on the rise of abuse fraud and how merchants can balance stricter return and refund policies without losing good customers.


Policy abuse is overwhelming to three-quarters of merchants today. Abuse and fraud have evolved to become more prolific, sophisticated, and challenging to detect, driven by Dark Web forums, social media (like Instagram and Telegram networks), and malicious AI tools. Meanwhile, many of the ‘good’ shoppers behave in ways that are bad for your business, compounding the problem.

In 2024, Riskified launched a new report focusing on returns, refunds, and their financial impact on merchants. The report ‘Returns, refunds & exchanges: How to stop good customers from paying the price of policy abuse’ investigates consumers’ behaviour, perceptions, and attitudes related to policy abuse in ecommerce. 

This report reveals merchants are forcing customers to pay the price of policy abuse, implementing shorter grace periods to make claims, introducing returns and restocking fees, and enforcing tighter inspections and restrictions.

Drawing insights from over 500 senior directors from large ecommerce businesses across the US, UK, France, DACH, Mexico, Brazil, and Australia/New Zealand, the paper aims to bridge the understanding gap between merchants and consumers on fraudulent practices such as return abuse, promo code misuse, and refund fraud. 


Key findings

Policy abuse is widespread and often deliberate

Policy abuse affects nearly all sectors of online commerce. 75% of all merchants confront with refunds, returns, and exchange abuse, leading to USD 394 billion expense for retailer across key ecommerce markets worldwide. According to the report, 84% of merchants claim it is harder for them to identify fraudulent activity today, as many AI-generated tools intensify the frequency of attacks, while abusers also leverage technologies for their benefit.

Many consumers admitted to committing at least one form of policy abuse, such as falsely claiming an item was not received or misusing a promo code. Notably, some abuse is deliberate, not just incidental or accidental. A Riskified study from 2024 focusing on the UK and the US market claimed that only half of the shoppers feel guilty in abusing merchant policies, while the other half feels entitled on getting the best bang for their buck when shopping online.

Younger consumers are more likely to abuse policies, with Gen Z and millennials being more prone to engage in policy abuse than older age groups. 

Additionally, return abuse (e.g., returning used or non-defective products) is more common among younger shoppers. This suggests a generational shift in perceptions around what is considered acceptable behaviour in digital commerce.

 

The most common types of policy abuse

The report identifies five major categories of policy abuse:

  • Return abuse: Returning items that are used, outside of policy, or falsely claimed defective.

  • Promo code misuse: Exploiting codes beyond intended limits or combining multiple codes.

  • Refund fraud: Claiming an item never arrived to receive a refund or reshipment.

  • Item Not Received (INR) claims: Often fraudulent when the item was delivered.

  • Wardrobing: Buying items with the intention of using them once and returning them.

Among these, return abuse and INR claims were the most common, especially during peak shopping seasons.

Financial impact on merchants

The cumulative effect of policy abuse is significant. The report estimates that retailers lose billions annually to fraudulent or abusive claims, but exact figures vary by sector. The challenge is compounded by the difficulty of disputing many types of abuse without risking customer alienation. According to merchants, more than USD 28 billion or the equivalent of 7% of the cost of returns and refunds are potentially abusive of fraudulent although a more in-depth analysis performed by Riskified mentions that this figure could be as high as 20%.

The most impacted sectors by the cost of returns are electronics, retail, fashion and luxury goods, payments, home and outdoor, tickets and travel, and food and grocery.

‘Historically, flexibility at all costs was the top priority when implementing returns and refund policies. Now, the cost has become too high […]’ – this statement not only acknowledges the magnitude of the problem but also provides clear directions that merchants must impose extra layers of friction and adjust laxed return policies to diminish the costs associated with fraud. 


Merchant strategies are evolving

In response to rising abuse, merchants are investing in:

  • AI and machine learning tools to detect fraud patterns

  • Tighter return policies

  • Customer segmentation to assess abuse risk

However, stricter enforcement must be carefully balanced with the need to maintain a positive customer experience. Overly rigid policies can drive away honest customers.

Conclusions

Policy abuse is a systemic and generational issue

The findings suggest that policy abuse is not just a fringe problem — it is a widespread and, often enough, a deliberate behaviour. The fact that younger consumers are leading in policy abuse points to a long-term challenge for ecommerce platforms. Merchants must prepare for an evolving landscape where abuse patterns shift along demographic and behavioral lines.

 

Merchants must balance fraud prevention with customer satisfaction

One of the most striking tensions highlighted in the report is between enforcing policies and maintaining strong customer relationships. Automation and smarter fraud detection tools can help, but the risk of alienating good customers remains high. Retailers are at a business crossroad, where they must find innovative ways to reward honest shoppers’ behaviour while penalising abuse discreetly.

 

There is a need for consumer education and transparency

Many consumers genuinely don’t understand when they cross the line into abusive behaviour or the consequences they will ultimately have to pay by doing so. Clear, transparent communication around policies, combined with incentives for following them, could reduce unintentional abuse. Education campaigns and better in-cart disclosures may help close the perception gap.


Don’t forget to get your free copy of the report here! Download it to discover more on:
  • The world of return, refund, and exchange fraud

  • Effective fraud prevention strategies

  • How to enforce your policies while keeping your customers happy

 

About Irina Ionescu

Irina is a Senior Editor at The Paypers, specialising in fraud and online payments. Leveraging her Ph. D. in Economics and a strong economic academic background, she constantly observes new developments in tech, innovation, and regulation, educating the audience about trends in fraud prevention, chargebacks, scams, social engineering, digital identity, GenAI, and ecommerce. You can reach out to her via LinkedIn or email at irina@thepaypers.com.


 

About Riskified

Riskified (NYSE:RSKD) empowers businesses to unleash ecommerce growth by outsmarting risk. Many of the world’s biggest brands and publicly traded companies selling online rely on Riskified for guaranteed protection against chargebacks, to fight fraud and policy abuse at scale, and to improve customer retention. Developed and managed by the largest team of ecommerce risk analysts, data scientists and researchers, Riskified’s AI-powered fraud and risk intelligence platform analyses the individual behind each interaction to provide real-time decisions and robust identity-based insights. Learn more at riskified.com.


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Keywords: policy abuse, fraud management, fraud detection, fraud prevention, online fraud, promo abuse, friendly fraud, artificial intelligence, merchant, machine learning, risk management, Account fraud, fraud rings, refund, refund fraud, ecommerce
Categories: Fraud & Financial Crime
Companies: Riskified
Countries: World
This article is part of category

Fraud & Financial Crime

Riskified

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