Advances in communication technology open up a world of innovation and opportunity. However, they also expose businesses to new vulnerabilities that have the potential to be exploited by criminals. At the Retail Council of Canada’s (RCC) Loss Prevention Conference in Mississauga, Ontario, on September 19, 26 leading loss prevention professionals Read More
Tag: types of fraud
The concept of the retail return is a relatively new phenomenon. In the mid- to late-twentieth century, retailers began accepting returned merchandise as an attempt to gain a competitive edge. The concept worked.
For many retailers, flexible returns have become synonymous with quality customer service. Nordstrom, for example, has built a Read More
What is the role of retail loss prevention? What may seem to be a simple question has grown increasingly more complicated as various functions, philosophies, tasks, and responsibilities are debated by the LP community, those who we serve, those who support us in meeting our goals, and those outside the Read More
More than 5 percent of holiday returns in 2017 are expected to be fraudulent, according to retailers. That would put the total loss to retailers from return fraud—for just the holiday season—at more than $2 billion. Fraud statistics for the year suggest that retailers will lose more than $9 billion Read More
LP executives often preside over two operations. First, there is the one you think you have—the losses you believe you suffer, the stores you suspect are problematic, and so on. Then, there is the operation that you see after deploying an enterprise IP video solution that ties into data streams Read More
Based on another project, I have spent two months combing over every issue of Loss Prevention magazine. Being a reader from the very beginning and contributing content every now and then, I thought I was pretty familiar with the magazine’s history, its development, and the changes in the industry over Read More
A new fraud detection technology using behavioral analytics to reduce the number of times debit and credit cards are being blocked by mistake, has claimed a 70 percent success rate during trials.
Featurespace, the UK company behind the fraud prevention software technology, claims it will be able to distinguish between genuine Read More
Recent employee theft statistics from the UK has seen a rise in so-called silver fraudsters – older, more senior employees willing to engage in criminal activity, according to one of the world’s most authoritative fraud reports.
According to the 2016 PwC Global Economics Survey, 55 percent of UK organizations have been Read More
By John Wilson
When Mark Twain said, “Reports of my death have been greatly exaggerated,” he was not talking about cash, and he was certainly not living in Scandinavia, the northernmost corner of Europe where talk of “the death of cash” is far from an exaggeration in the face of the electronic payment Read More