In 2024, NRF released an initial version of its Retail Fraud Taxonomy, developed in partnership with Target, the Retail and Hospitality ISAC, the Chertoff Group, and other retail participants. The taxonomy provides a framework for retailers to assess and categorize retail fraud threats and identify appropriate actions to mitigate them. NRF and an expanded group of partners are currently working to develop version 2.0 of the Taxonomy, which will expand it to address return and refund fraud. This session will provide an overview as to how retailers and industry partners can use the taxonomy, and highlight early findings from the development of version 2.0.