The Biggest News in Loss Prevention: March 23 – 29

We know that your week can get busy, and the time you have to catch up on the news from around the retail loss prevention industry is often stolen away by other things. That’s why the LPM team sifts through headlines from all over the country to bring only the most relevant LP news to you here, in our special weekly news round-up—the perfect bookend to a productive week.

Here’s What You May Have Missed

US Customs and Border Protection officials in Cincinnati on Thursday seized a large shipment of counterfeit sports championship rings.

LA County Sheriff’s Department’s ORC Task Force Conducts Major Fencing Bust
Fox News followed the LA County Sheriff Department’s Organized Retail Theft Crime Task Force during a major fencing bust in what appeared to be a shopping center in a crime-ridden area near downtown Los Angeles.

Amazon Invested $1.2B, Hired 15,000 People to Tackle Counterfeit Problem
Online marketplace Amazon invested more than $1.2 billion and hired about 15,000 experts in 2023 to protect the brand, its sellers, and customers from fraud and counterfeit.

America’s Retail Sector On the Rise, But So is Crime
The National Retail Federation’s latest “State of Retail & the Consumer” report forecasts that retail sales will reach nearly $5.3 trillion this year, about a 3 percent increase over last year. The retail sector is responsible for 55 million full-time jobs and 20.4 percent of US GDP, the NRF reports.

Lower Manhattan Mall Built for $1B Just 10 Years Ago Shutting Down Due to Retail Theft
A major city mall with dozen of stores is planning to shut up shop as America’s theft epidemic continues to batter businesses.

Lowe’s Hit by Nearly $300K ORC Ring
The U.S. Attorney’s Office in Columbia, South Carolina, has indicted six people for racking up nearly $300,000 in fraudulent charges at Lowe’s stores in four states.

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