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Industry Takes Note: PetSmart’s Fraud Protection Leads To Prosecution (and Saves Millions)

posted on: Tue Jul 17 2018

Within every industry there comes a story that changes the general mindset of the market. In the fraud industry, that story is PetSmart. 

Not content with simply stopping fraud at its chain of stores, PetSmart’s fraud manager, Chad Evans, has approached fighting fraud with the skill of a criminal detective. 

When criminal activity occurs, Evans builds the case, works with law enforcement and prosecutes. In addition to helping protect the merchandise and brand of PetSmart, Evans’ activity has:

  • Led to the prosecution of a NYPD murderer
  • Uncovered a human-trafficking ring
  • Saved PetSmart approximately $4 million in fraudulent orders and 12 million in overall costs

This story is gaining traction and fraudsters should take notice. PetSmart’s prosecution of criminals has been widely covered across several key media outlets including: BloombergZDNetInc.CIO Dive and Forbes.

Evans is not alone in his quest to prosecute fraudsters. Kount is starting to see fraud managers across a variety of industries adopt this mindset. Micro Center’s Director of Loss Prevention, Skip Myers has been a longtime advocate of prosecuting criminals.  Myers collaborates with Evans to detail their adventures of stakeouts, building cases with data and working with law enforcement within Kount’s recently published whitepaper “Insider Hacks: How to Catch and Prosecute Fraudsters.” Evans comments that “the first time you present a case to law enforcement, it can be intimidating. However, once you understand what makes a case and present the evidence in a manner that law enforcement can understand, they are anxious to work with you and capture the criminals in action.”

Today’s sophisticated fraud fighting tools keep fraud losses at bay for most retailers. Interestingly only 20 percent of professionals in the fraud prevention space are actively prosecuting those that steal from them online. Because the majority of hackers are subsidizing larger organized crime-rings with their antics, law enforcement is highly interested in prosecuting cybercrime. Using data collected by fraud mitigation solutions, retailers can provide evidence to bring fraudsters to justice and send a message to underground fraud rings.

PetSmart and Micro Center both leverage a combination of Kount’s award-winning fraud solutions to identify and stop fraudulent behavior. The advanced analytics presented by Kount often becomes the information foundation that the cases are built on. 

To learn more about investigating and building a case against online fraudsters, download the white paper “Insider Hacks: How to Catch and Prosecute Fraudsters” or visit www.kount.com.

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