PREEVNT PRESCRIPTION FRAUD & REDUCE COUNTERFEIT LOSSES
One large national pharmacy company, found in violation of the Control Meth-Amphetamine Act (CMEA), was subject to an $80M federal fine due to their failure to implement a program to identify clients purchasing certain cough medicines. FraudFighter supplied them with over 15,000 units of the UV-16 for ID verification, and the client was able to avoid the Federal fine by spending less than 1% of the cost of the potential fine.
Pharmacies and drug stores must combat fraud while complying with strictly mandated regulations regarding the sale of prescription drugs. Criminals frequently target pharmacies using fake and/or stolen prescriptions and identity documents in order to unlawfully obtain narcotics. Drug retailers must be determined to enhance their fraud prevention efforts as the criminal element continues to become more creative and efficient with the use of technology to aid them in prescription fraud.
Fraud is a problem that costs more than $221 billion worldwide and it’s getting worse.
At the drug store/retail level, fraud activities include the use of fake identification, the presentation of counterfeit funds, fraudulent or stolen credit cards and return receipt fraud – all of which affect the bottom line in an industry that is already struggling to recover from a rough economy. Such losses from fraud, if not remedied, will make it increasingly difficult for businesses to control and sustain profits.
• Identity verification is vital in prescription fraud prevention due to the nature of the restricted products they sell.
• Verification of Identify is required for all sales of class I & II narcotics such as Codeine or Percocet.
• Age verification is required for the sale of alcohol and tobacco – failure to do so may result in severe fines and expensive legal proceedings and/or the loss of liquor licenses.
• Compliance with CMEA (Control Methamphetamine Act) is required for over the counter cough medicines (which at a minimum means the retailer, must log ID’s of suspicious pseudoephedrine purchases).
FraudFighter™ solutions contribute to optimizing prescription compliance with each of these issues, and at the same time, help prevent fraud related theft with easy to use, inexpensive and reliable protection controls that stop it before it happens.
Our team of fraud prevention specialists is here to guide and provide support for all your fraud prevention needs!
CONTACT OUR FRAUD PREVENTION TEAM
1743 S. Grand Ave., Glendora, CA 91740
(800) 883-8822
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