Loss Prevention

Linking Retail Theft to Terrorism

Knock-off merchandise and U.S. ORC gangs support global networks

From Feb 2012 | By Michael Hartnett | Tags: Loss Prevention, Nuts & Bolts

Counterfeit Goods

Michael Hartnett

Knock-off merchandise and U.S. ORC gangs support global networks

C hances are, consumers who buy Gucci and Coach knockoffs, pirated CDs and DVDs and some very low-priced pharmaceutical products are contributing financial support for al-Qaeda, Hezbollah, Hamas, street gangs MS-13 and MS-18 and drug lords from Central and South America, according to a new book that untangles the twisted money trail.

The Shape of Things

Radiation-free scanning helps reduce internal shrink

From Feb 2012 | By Liz Parks | Tags: Loss Prevention, Nuts & Bolts

Internal Theft

Liz Parks

Radiation-free scanning helps reduce internal shrink

A ny loss prevention specialist will say that it is better, in human and economic terms, to prevent thefts rather than solve them. Combine that with the most recent numbers from the National Retail Security Survey – that employee theft cost retailers some $16.2 billion in 2010, up 12.5 percent from 2009 – and it’s clear why advanced concealed detection technology is beginning to emerge as a safe, cost-effective and privacy-sensitive method of reducing shrink.

Take It to the Bank

The low costs and high benefits of armored car service

From Jan 2012 | By Liz Parks | Tags: Loss Prevention, Nuts & Bolts

Cash Handling

Liz Parks

The low costs and high benefits of armored car service

There used to be a time when stores and restaurants located in low-crime neighborhoods felt safe and secure, “trusting our employees and customers,” says Pam Carson, co-owner of two franchised McDonalds restaurants in Kansas City.

“Our managers took our deposits, about 70 percent in cash, to the bank several times a day for nine years,” she says. “But in this day and age, that’s not a good business practice.”

Global Retail Theft Barometer

The Good, the Bad and the Statistically Significant Sidebar

From Jan 2012 | By David P. Schulz | Tags: Loss Prevention, Nuts & Bolts

David P. Schulz

The Good, the Bad and the Statistically Significant Sidebar

Retail employees out-steal shoppers in North America, where total shrinkage amounted to $45.3 billion in 2011, according to the Global Retail Theft Barometer generated by the Centre for Retail Researching in Nottingham, England.

Employee theft accounts for 44.1 percent of retail shrink in North America, while customer theft — including shoplifting and organized retail crime — is responsible for 43.2 percent, says Dr. Joshua Bamfield, director of CRR and author of the study. The total cost of theft amounts to 1.45 percent of sales, according to Bamfield.

The Good, the Bad and the Statistically Significant

Figures show that fraud is down but theft is up

From Jan 2012 | By David P. Schulz | Tags: Loss Prevention, Nuts & Bolts

Research

David P. Schulz

Figures show that fraud is down but theft is up

Plenty of people still pay cash for goods and write checks to pay their bills, perhaps as many who pay online or via mobile devices.

Merchants are well aware that thieves and fraudsters exhibit the same range of diversity as legitimate shoppers, and retail LP researchers have expanded their efforts to measure the ways in which retailers can be victimized.

Plug-and-Play PCI Security

Retailers upgrade their systems with a cost-efficient solution

From Dec 2011 | By Michael Hartnett | Tags: Loss Prevention, Nuts & Bolts

PCI

Michael Hartnett

Retailers upgrade their systems with a cost-efficient solution

It’s the headline no retailer wants to see: a massive breach involving shoppers’ personal data. And yet despite increased efforts, these breaches keep happening – millions of data files full of personal information have been breached, and the causes are many: unintended disclosure, hacking or malware, payment card fraud, dishonest employees or contractors and lost documents or storage devices.

Are crooks getting smarter or are retailers not taking enough precautions?

Seeing is Saving

Wireless Express boosts profitability, reduces costs with MVaaS solution

From Dec 2011 | By Michael Hartnett | Tags: Loss Prevention, Nuts & Bolts

Video Surveillance

Michael Hartnett

Wireless Express boosts profitability, reduces costs with MVaaS solution

When Wireless Express installed cameras and video recorders from Envysion, the initial goals emphasized reducing losses due to internal and external theft. Top managers soon discovered additional benefits, however, in cash management, staffing, marketing and merchandising.

Remaining Vigilant

Retail Security Survey pinpoints gains and losses

From Dec 2011 | By Michael Hartnett | Tags: Loss Prevention, Nuts & Bolts

Research

Michael Hartnett

Retail Security Survey pinpoints gains and losses

Despite a backdrop of challenging economic conditions and ever-persistent thieves — whether dishonest employees or shoplifters — retailers are maintaining a steady pattern of shrink reduction.

As retailers have identified effective loss prevention initiatives and LP executives have gained a louder voice in promoting solutions, overall losses as a percentage of sales have remained close to historic lows, according to Richard Hollinger, professor in the department of sociology and criminology and law at the University of Florida.

Whopper of a Breach

Unsecured network cost BK franchisee $200,000 in PCI-related fines

From Nov 2011 | By Fred Minnick | Tags: Loss Prevention, Nuts & Bolts

Data Security

Fred Minnick

Unsecured network cost BK franchisee $200,000 in PCI-related fines

Credit card breaches are becoming alarmingly common. Since 2009, several high-profile companies have had their consumers’ credit card information compromised.

In January 2009, Heartland Payment Systems disclosed that hackers had gained access to computers used to process 100 million payment card transactions each month for 175,000 merchants.

More than a year later, Twin America, the parent company of CitySights NY, disclosed that an estimated 100,000 customers’ personal details, including credit card numbers, were stolen.

Foul Play

MLB partners with OpSec Security to protect brand, intellectual property

From Nov 2011 | By Craig Guillot | Tags: Loss Prevention, Nuts & Bolts

Counterfeiting

Craig Guillot

MLB partners with OpSec Security to protect brand, intellectual property

T he production of counterfeit merchandise is a $600 billion per year industry that has grown 10,000 percent over the past two decades, according to the International AntiCounterfeiting Coalition. Fueled largely by consumer demand, it costs U.S. businesses up to $250 billion annually and has been responsible for the loss of more than 750,000 domestic jobs.