Richard Nelson and Erica Brand Portnoy write “5 Ways to Prevent Discount and Warranty Fraud” for InsideCounselJanuary 2013
How is your company competing in the global economy? Are you offering special discounts to specific customers to attract new business or deepen existing relationships? Do you support your products with a robust warranty replacement program? You may not realize it, but these common practices of highly successful companies may be the means by which your company is being robbed blind.
If your company’s products are in high demand, then you are a tempting target for two kinds of sophisticated fraud schemes aimed at finding and exploiting weaknesses in your discount and warranty programs. Both discount fraud and warranty fraud are on the rise-with large dollar amounts in play-and even the most vigilant of companies have become victims…READ MORE