Home Tags Loss prevention policy and procedures
Tag: loss prevention policy and procedures
Organized retail crime involves two or more persons obtaining retail merchandise through theft and fraud as part of an unlawful enterprise.
The crime of shoplifting is as old as shopping itself. The first documented cases of shoplifting took place in 16th-century London and involved groups of men called “lifters” (early organized retail crime?).
In situations where a subject reverts to “I don’t remember,” it is generally a means of defending himself without having to admit to participation in a particular act.
Contemporary loss prevention professionals still maintain responsibility for retail security. But they also must handle employee theft issues, data protection, safety and risk management, inventory audits, legal compliance, and matters related to organized retail crime and fraud.
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.
Since 1980, the percentage of people in the United States who primarily speak a language other than English has grown by 158 percent, while the nation’s overall population has risen by a comparatively modest 37 percent.
When it comes employee investigations, sometimes the "smell test" will not let you rest. You know, those situations when you listen to a story or a business practice, and something just plain stinks.
When I went to prison, I was scared—not an uncommon feeling. I knew exactly what I did that landed me in there—32 federal felony counts of bribery, conspiracy, and money laundering—but I didn't know why I did what I did.
Often, these theft events will occur in the retail setting, but there are other ways by which the devices can be used to steal information. Unfortunately, all it requires is a little illicit technology and a lot of criminal intent.