CIC OFFERS SUGGESTED VOLUNTARY BEST PRACTICES TO RETAILERS TO FIGHT COUPON FRAUD AND MIS-REDEMPTION
The Coupon Information Corporation (CIC), an industry group dedicated to fighting coupon fraud and mis-redemption, has published a document entitled "Suggested Voluntary Best Practices: Retailer Coupon Acceptance Policy." This list of best practices was generally endorsed by several retailers at the CIC Summit in March, and the CIC is seeking additional feedback from retailers and wholesalers.
Click here to review the document.
Please respond with comments to comments@prologicredemption.com
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| NEW COUPON INFORMATION CORPORATION WEBSITE
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In addition, the CIC re-launched their website at a new URL earlier this month: www.couponinformationcenter.com. The updated site is more user-friendly and includes a downloadable list of all known counterfeit coupons in circulation dating back to 2006. The website also includes a statement on the CIC's position on the popular TLC show Extreme Couponing which retailers should be aware of.
Click here to visit the new CIC website.
FBI ARRESTS COUPON FRAUD SUSPECT
On May 11, the Federal Bureau of Investigation and the U.S. District Attorney's Office apprehended the man accused of masterminding one of the largest incidents of institutional coupon fraud in the United States. Lucas Henderson, 22, of Lubbock, Texas, will face federal felony charges of wire fraud and trafficking in counterfeit goods and potential prison time of up to 30 years for the two charges combined.
Read the full press release from News America here.
PROLOGIC RETURNS CASH FOUND IN COUPON BAGS
On two occasions this month, ProLogic operators in our processing plants in Mexico discovered bags with substantial amounts of cash mistakenly included with coupons from stores. The operators alerted their supervisors, who immediately arranged for the cash to be returned to the retailers. We salute and appreciate the integrity of the operators in our processing plants in Acuña and Muzquiz, Mexico!
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| FMI RELEASES 2011 "FOOD INDUSTRY SPEAKS" REPORT
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FMI RELEASES 2011 "FOOD INDUSTRY SPEAKS" REPORT
This month, the Food Marketing Institute released its annual report entitled "The Food Retailing Industry Speaks." The report indicated that the retail grocery industry continues to face the challenges of a weak economy. While overall industry sales grew 3.1%, median weighted same-store sales fell 0.6% and median net income fell to 1.57%, the lowest level in the past ten years.
For more information about the report and its findings, click here.
