When it comes to fighting organized retail crime (ORC), thinking outside the box can lead to “electric” results. That was the case for the asset protection team at Lowe’s, where following the money and outside-the-box thinking resulted in an $12 million case and the recovery of warehouses full of stolen electric wire.
To best confront the destructive impact of ORC, asset protection professionals must learn to approach the problem in different ways, expanding our methods and way of thinking into diverse areas of the business and other aspects of the retail enterprise. Blatant theft operations with thieves devastating stores and traumatizing customers and employees may be the most common face of organized retail crime, but it is by no means the only concern. Opportunities for losses are only bound by the ingenuity of the thieves involved, and asset protection teams and our law enforcement partners must match that creativity to make real progress.
Presented Live March 3, 2022
WATCH THE ON-DEMAND VIDEO HERE
In this webinar, “Following the Money to Identify and Dismantle ORC Networks,” we look inside the retail business at areas of opportunity in e-commerce and e-fraud. Well-known researcher Adrian Beck along with Todd Isenhour, LPC from Lowe’s explore expanding the category of e-commerce within the typology of Total Retail Loss and exam the trails of theft and fraud within the retail business.
Isenhour, director of investigations and fraud mitigation at Lowe’s, details how following the Lowe’s “Big Three Objectives” drove the asset protection team to follow the money, examining out-of-stocks and uncovering a major scheme that began in Texas and spread to markets across the US.
“Everything we do begins with exploring ways we can support the business,” said Isenhour. “Working together with our retail partners and seeing the business through different eyes can lead to exceptional results.”
Similar to any business operation, ORC networks operate to make money. A key difference however is that they must innovate to move and hide that money as much as possible. Finding and following the trails of money as it flows through legal and illegal channels is critical to identify the network, build the case, and ultimately dismantle the ORC operation.
Presented Live March 3, 2022
WATCH THE ON-DEMAND VIDEO HERE
Then we move outside retail with Homeland Security Investigations (HSI) investigators and the Association of Certified Anti-Money Laundering Specialists (ACAMS) executives who work with outside agencies and financial institutions to detect the accounts of these criminal organizations to identify the network so it can be dismantled.
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