Our mission is clear—to promote gift card market integrity— and our effectiveness is crucial to the health of the gift card marketplace. Administering the largest system specifically designed to resolve gift card related issues.
Retail Theft Analysis and its' partners have set out to end the $9 Billion of gift card fraud in the United States. This fraud helps to fuel the opioid crisis, and it is robbing states and local communities of sales tax revenue of more than $500 Million annually.
The company was instrumental in passing new legislation in Tennessee to limit gift card fraud in the state, increasing state sales tax revenue and reducing the money people use to fund their addiction to opioids in Tennessee. (Tennessee Information) Our technology is being implemented across Tennessee, Florida and other states.
How do we do it? We use new sources of data and internal analytics to track fraudulent gift card activity, and make that data available in useful ways to local law enforcement, gift card resellers/exchanges/websites and participating retailers.
Retailers can use the information to reduce fraud and recover revenue while states reclaim state sales tax.
In addition, gift card resellers can reduce fraudulent cards flowing through their systems and financial institutions can be alerted to possible credit card fraud involving gift cards.