Luxury Watch Fraud An Expanding Crime Category to…Watch
Description
Bad actors who couldn’t snatch expensive timepieces during the pandemic when people stayed home turned to luxury watch fraud, which has evolved into a variety of crimes: refund and chargeback requests, use of counterfeit watches, fraudulent finance applications and even crypto scams. Recovery operations for these high-dollar watches reveal that 10% of overall cases are linked to fraud—the real figure is expected to be much higher. We spoke with Katya Hills of The Watch Register about the trend and why these crimes seem to be more prevalent.
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