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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.
Throughout my career, I've investigated numerous significant increases in shortage on a multi-store level. In each case, the cause was traced to the distribution process.
We are pleased to recognize and congratulate these industry leaders who recently obtained certification. Despite their demanding schedules, they still saw the value and took the time to obtain this industry-leading credential.
At first, this may seem like an issue that involves only the retailer. However, the decision to ignore generally accepted cash and merchandise controls has far-reaching implications.
Few things are as frustrating for a loss prevention leader than discovering a bad packaging design they know will promote retail shrink— a feature which could easily have been prevented.
Shoplifting is often viewed by professionals and amateur thieves as a low-risk versus high-reward business. As experts have documented, many shops and stores do not do enough to dissuade the rational criminal, who scans every environment for an opportunity.
In the 1970s and 1980s, service in law enforcement was the required foundational experience for most loss prevention leaders. Today, the ability to collaborate with business partners has become the most important competency. The retail industry has begun to require more diversified LP skills.
When building a successful loss prevention department, our objectives must be attentive to the ultimate goals of the company and needs of the business.
The ECR Community Shrinkage and On-shelf Availability Group had become aware of growing concerns about the losses relating to the sale of grocery store magazines and newspapers in the UK—a category not normally associated with high levels of loss.
If employees feel they don’t have an audience to which they can report safety concerns, they may instead turn to safety enforcement agencies.