Loss prevention is a moving target. Every time a new retail strategy is put in place, such as buy online, pick up in store (BOPIS), it’s up to loss prevention professionals to devise countermeasures to combat the new theft opportunities that arise. Best Buy, Acme Markets, and Wegmans loss prevention executives give their recommendations.
The growing move to faster payment options for retailers may improve merchants’ cash flow, but increased transaction speed brings along with it the increased...
LPRC researchers discovered an organized retail crime (ORC) ring based out of Chicago and were able to investigate this group closely to learn more about their return methods and routines.
While it's certainly the future, self-checkout is also a mature technology with persistent, unaddressed problems in need of a fresh fraud prevention approach. [Sponsored]
Experian has noted that credit card fraud is the most common form of personal financial fraud. Statistics say that 47 percent of adults in the United States have reported being victimized by a fraudulent purchase on their credit or debit card, and that percentage is predicted to rise.
“The little blue box is very important—it is our reputation, it is our brand. When people sell counterfeit blue boxes with fake jewelry, it tarnishes the brand,” said Tiffany & Co.'s Charles Olschanski.
"Fueled by the proliferation of Internet use and social media platforms, the magnitude of global physical counterfeiting is estimated to have increased significantly since the beginning of this century."
A significant portion of organizations are overlooking the most effective anti-fraud measures, according to ACFE data. For example, proactive data monitoring and analysis is an anti-fraud control measure at just 37 percent of victim organizations.
Loss prevention has taken on perhaps the greatest scrutiny it has ever experienced because of the jump in identity theft and transactional fraud that has businesses under attack on virtually every revenue-generating front.
Popular retail fraud topics in 2018 included the latest update for credit card fraud news, the side effects of chip technology, and fraudulent returns during the holiday season.