Combating loss with the help of a Loss Prevention Agent

October 6, 2010 by

A loss prevention agent  is a trained professional who can assist businesses in identifying the cause of a loss of profit (which is a result of loss of inventory, cash, adminstrative errors etc…).  When a business experiences a loss, figuring out the source can prove challenging and time consuming.  And if the cause ends up being employee theft, then this can be especially frustrating for the business owner.

A business owner or manager identifies that there is an issue in their organization, and loss of profit is resulting.  When all indications point to employee theft, the business owner can feel betrayed by his or her trusted employee.  However, a business must protect their assets, so an unbiased and experienced person such as a  loss prevention agent can be brought in to assist.

A loss prevention agent can help businesses identify the cause of a loss of profit, and also help secure restitution in situations of employee theft. Also referred to as a loss prevention investigator or loss prevention consultants, these professionals are trained to create cases worthy of successful prosecution if that is desired.  They are also trained in conducting employee interviews of both witnesses and suspects.  This is necessary so that the most accurate information can be obtained during an investigation.

We all want to trust those that work for us – but it is inevitable that your business will one day be the victim of employee theft.  Considering employee theft accounts for more loss than shoplifting, it is critical that these losses be identified and handled as soon as possible.  A loss prevention investigator has specialized skills honed specifically for a retail environment.

For more information contact us: loss prevention agent  or call 1.770.426.0547.

 

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Making the decision on Loss Prevention Consultants

October 4, 2010 by

Considering hiring loss prevention consultants? Here are a few good reasons why doing your research could make all the difference in the world.

Retailers and businesses alike face many of the same obstacles to making a profit. Employee theft, white collar crimes, physical security issues and many other avenues of loss are all factors in determining your business needs.

Here are a couple of things to consider when looking for Loss Prevention Consultants. In this example, we’ll use Company “A”.  Company A has identified merchandise loss during their inventory process. They are an emerging business with a growing customer base. After their inventory, the management was at a loss. They kept looking at all the wrong places for answers that were right in front of their faces. Merchandise in the liquor department and merchandise in the electronics section were missing in large numbers. The items are controlled stock on the salesfloor and are maintained in employee only area in the back of the store. At this point, it’d be well advised to bring in professionals, Loss Prevention Consultants. 

Company A hired a loss prevention consultation firm and the investigations begun. Advisors arrived to the location and examined everything from forensic accounting to external theft investigations. Looking into the receiving practices proved the merchandise was received when it should have been. An even further look showed the possibility of a couple of associates taking merchandise out of the back roll-up door just after being received. The Loss Prevention Consultants brought in a  loss prevention investigator who gathered the investigation materials and arranged the interview/interrogation of the suspected employees.

The interrogations were performed, and the two employees admitted to the theft. Additionally, the Loss Prevention Investigator was able to get the two employees to agree to a search of their private homes. The local police department was contacted and a search of the employees’ home recovered over $100,000 in merchandise.

For more information contact us at loss prevention consultants or call 1.770.426.0547

 

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Think you need a Loss Prevention Agent?

September 30, 2010 by

Retailers are in the same group as most businesses today having to cut back staff to be more cost competitive which has made subcontracting a  loss prevention agent an attractive alternative.

A loss prevention agent (loss prevention consultants, loss prevention investigator) can fill the gap that is generated when staff cuts make managing losses more difficult than ever.  Short sidebar- Organized Retail Crime (ORC) is on the rise, big time probably due to the combination of a down economy driving more people to desperation and what looks like (to the shoplifters) a prime opportunity of practically unmanned retail stores making shoplifting easier than ever.

A loss prevention agent will be able to conduct an audit taking a look at many different areas where losses can occur.  After the information is gathered a report will be generated outlining vulnerable areas/ risks for loss whether they be inventory shrinkage, administrative error potential, vendor fraud potential or cash losses.  Even the potential for fraudulent accident claims by visitor in the building…such as slip and fall claims that are very popular in supermarkets.

Also included in the report will be a recommended action plan to correct the issues found.  This allows the owner manager to work with the loss prevention agent to prioritize solutions in a way that will work with the budget.

Reducing inventory shrinkage or overall losses (shrink) by 50% or more is common.  Those numbers result in doubling net profit margins.

For more information go to: loss prevention agent or call 1-770-426-0547

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Loss Prevention Investigator – Your White Knight?

September 14, 2010 by

What is a Loss Prevention Investigator? A complex area of loss prevention, by far, can be the investigations related to employee theft, missing merchandise, poor inventory results or organized retail crime. The main job of the Loss Prevention Investigator is to, as the name claims, investigate. Gathering detailed information, contacting witnesses, investigating the area where the incidents occurred, correlating the information and working with law enforcement are some of what an investigator would do.

Even more so, the bread and butter, as it is said, comes down to the interview/interrogation of a suspected dishonest employee. In some cases, this part of the investigation can make or break the outcome.

Interviewing/Interrogating dishonest employees takes finesse. You may say, sure “How hard is it to talk with an employee about losses?” In fact, it’s tough, especially for a manager or business owner that has a vested interest in the employee in question. A seasoned investigator can be the difference between recovering your losses and hurting your business.

Generally speaking, a Loss Prevention Investigator starts out as an entry level Loss Prevention Agent. Usually he spends his time apprehending shoplifters and investigating external theft, or shoplifters. When he expresses interest to his supervisor or his supervisors believe the agent has what it takes to become an investigator, the transition begins. A Loss Prevention Agent can make great investigator. Most of us started as a Loss Prevention Agent 

All in all, investigators are an important part of any loss prevention program. Maintaining a profitable business is the goal of any business owner. Providing support, direction, recovery and closure is the goal of a Loss Prevention Investigator.

When the chips are down and you need help a Loss Prevention Investigator is the person who is on your side, fighting for you and your business.

For more information contact us at loss prevention investigator or call 1.770.426.0547

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Atlanta Area Convenience Store Employees Caught In Theft Of Over $121,000 In Lottery Tickets & Cash

August 26, 2010 by

The owner of a Metro Atlanta area convenience store chain contacted us with a suspicion that several employees may be involved in lottery theft based on serious irregularities in the company’s books. We began an employee theft investigation.

To develop investigative information, our loss prevention investigator installed two covert closed circuit TV cameras covering the cashiers’ area and the lottery machine. Video confirmed that the store manager, who had been employed for several years, was routinely stealing large quantities of lottery scratch off tickets.

A second employee was found to be stealing cash from sales by accepting cash from a customer, making change from the register, then pocketing the cash.

Based on the information collected, the manager was interviewed by our loss prevention investigator . The Atlanta area convenience store manager admitted stealing lottery tickets totaling $111,150.00 and cash in the amount of $6,500.00. The money was taken to pay bills and for a “gambling problem” over a period of the previous 2 years.

The second employee was interviewed as well by our loss prevention investigator . This employee admitted stealing approximately $3400.00 in cash over the previous year by not ringing sales up and pocketing the money. The employee did this for “spending money”. This employee also admitted knowledge of the manager’s lottery activities. This individual had been employed for a year and a half.

Contact us at: loss prevention investigator or in the Atlanta area call 1.770.426.0547

 

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Atlanta Loss Prevention Investigator

August 24, 2010 by

Loss prevention investigator’s in the Atlanta area.

A loss prevention investigator conducts employee theft investigation in any type of business, traditionally in the retail sector. However, we have found that the skills and techniques are used seamlessly across any business sector.

Employee theft, embezzlement, business fraud and vendor fraud are just a few of the areas that a loss prevention investigator can look into. Why pay for an investigator? Why would you not just call the police? First Police Departments have always been traditionaly understaffed in this area. With the economic problems the country is going through staff cuts have also hit the police. Then keep in mind that violent crime always takes priority.

In addition a typical law enforcement investigator in the U.S.is assigned an average of 30 cases a month. How many of those are going to get the attention they deserve. Yours would be added to the pile.

If you do not submit a finished case and I mean a completely finished case that is exactly what will happen. We are routinely told three months to a year for law enforcement to bring the case to charges filed in a case they conduct by themselves.

A loss prevention investigator can be dedicated to that one investigation and do the same work, many times with higher quality standards than a law enforcement investigator. Again it is the difference between the public and private sector.

Should you hire an off duty police officer? Again, the difference between the public and private sector is that not only will the loss prevention investigator generally have a higher skill level but also a true loss prevention investigator is a business person. We understand business needs and are not only concerned with putting someone in jail.

Atlanta is a very dynamic city with a vast and diverse business community. Law enforcement in the metro area is stretched to the limit. Don’t let your case be put in “the pile”

Contact us or in the Atlanta area call 770.426.7593

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Who Is A Qualified Loss Prevention Investigator?

August 21, 2010 by

When looking for a loss prevention investigator for employee theft investigations you should keep in mind that one of the principal requirements is a high skill level in interview and interrogation.

Very few people understand how this works. The average person takes what they see on TV as reality. Far from it.

An interrogation is a structured conversation that follows very clear guidelines. If someone says “I can just talk to him or her for a while and usually they will tell me something”, run. This approach along with good guy, bad guy routines and the like are simply garbage.

This is a skill that many portray as having, but few are truly qualified. When you need an loss prevention investigator look for the follow things:

1 A person who has worked successfully for several major companies such as Macy’s, Wal-Mart, The Gap… They should have a clean track record at each of these companies.
2 Did they actually do investigations on their own to completion?
3 How many interrogations have they done on their own? If it is less than 400, keep looking.
4 How many formal interview and interrogation courses have they completed? They should have certificates from organizations such as John Reid, Wicklander…. If they tell you “Oh I didn’t need those I learned on the job” find someone else. That’s like asking someone to be your lawyer based on the number of John Gresham books they read.

These courses and methods not only provide structure to the investigator but when you get to court not having formal training to hold up is asking for trouble. The defense will tear them apart.

Do not trust your business or investigation to a loss prevention investigator that is less than qualified.

Contact us or call 1.770.426.0547

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4 Tips before you hire a Loss Prevention Investigator

August 12, 2010 by

There are some things to consider before you hire a  loss prevention investigator.

#1. What is their training?  If their training is completely on the job, they may have one or a narrow view of how to handle loss prevention.  The ideal  loss prevention investigator will have real world on the job training, preferably several years with more than one retailer, as well as secondary education/ professional training.

#2.  Are they a licensed investigator?  Hiring a licensed investigator is not only common sense, but hiring one that is not licensed means they are breaking the law.  Additionally if taken to court, it will get thrown out with a non-licensed investigator building the case.

#3. Ask to see case files. A solid  loss prevention investigator is going to have this resource available in volumes.  It is very easy to look bigger than you are in the world of the Internet.  Get proof.

#4 Get references.  Third party testimonies are a great way to help guide the decision to hire a professional.  You will learn about demeanor, style, efficiency, professionalism and get a feel for how confident their clients are in their abilities.

Bonus tip. Leave the investigation up to the professionals.  Calling the police without a well developed case or acting hastily can eliminate your chance of learning the truth or ever recovering any damages.

For more info visit here:  loss prevention investigator

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Employee Theft Issues Best Handled Through Loss Prevention Consultants

August 9, 2010 by

These scenarios are good clues you should consider talking to  professional loss prevention consultants.

You are a retail business owner and have recently had a suspicion that you have an employee who is stealing from you, but you can’t quite put your finger on it the specifics.  There have perhaps been small amounts of cash missing, the register doesn’t always balance at the end of the day, or that item of merchandise you were sure you had yesterday can’t be located today, and there is no record of its being sold.

How do you find out if you have a case of employee theft and how do you determine the how serious it is?

Is now the  time to confront the suspect employee or to launch a full blown internal investigation to find the source of you suspicions?  Will a confrontation cause the guilty employee to stop his actions before you are able to prove involvement and have a chance at restitution?

In order to alleviate internal theft properly, certain steps must be taken by a qualified  loss prevention consultant to protect any innocent employees from feeling suspect and to protect you from any liability.

This is the time to contact  experienced  loss prevention consultants who have the skills and experience to quickly get to the bottom of your problem and to find out the depth of employee involvement using highly developed investigative analytics and interview skills and to bring the situation to a successful conclusion.

For further information go to:  Loss Prevention Consultants

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Suspect White Collar Crime? Call a Loss Prevention Investigator

August 5, 2010 by

If you suspect your business is victim of corporate fraud/ white collar crime, you should consider consulting a loss prevention investigator.

Wikipedia defines white-collar crime as “a crime committed by a person of respectability and high social status in the course of his occupation”. We have found that this kind crime is not just reserved for the Senior Management of a business or retail establishment. People frequently involved in white-collar crime include Department Heads, Assistant Managers and Managers.

Employees at this level of management have access to inventory, cash, bookkeeping records and deposits. They can make changes to inventory and records and are in fact expected to do so in a genuine business situation.  Because of this access and trust there are employees that end up committing white collar crime by voiding sales, modifying the accounting records, stealing inventory and depositing checks to their own account.
How can an employer protect it self from white collar crime? To begin with the hiring process must be designed to screen out candidates that have high-risk backgrounds. Some of these include:

  • Termination from a previous job for theft.
  • Poor credit history. If a person cannot manage their own money do you really want them managing yours? There are some exceptions such as a severe medical problem. But beyond those types of issues a poor credit record tells you how they manage their life.
  • Traffic tickets beyond the occasional speeding ticket. Drunk driving, reckless or careless driving and frequent accidents tell you yet again more about how the person conducts themselves.
  • Criminal histories also give us a window into a person’s mindset. I am not talking about the check they bounced in college for dry cleaning. Domestic violence, assaults, drunk and disorderly type incidents show that a person is not in control of themselves. And of course convictions for serious crimes such as murder, kidnapping and rape not only show us that the person is out of control but is a high-risk liability for an employer. If you hire someone like this and they commit any crime against your employees or customers and you will most likely be held liable.
  • Employment testing with one of the many employment-screening tools that sort out people that are prone to the issues above are very effective.
  • Drug testing
  • Companies should conduct multiple interviews by more than one management team member skilled in pre-employment interviewing.
  • Check references. This tends to get down played but clearly has merit. Require references with teacher’s previous supervisors, co-workers, etc beyond the ones that they list on their resume.

Protect your self by being proactive. Remember, white-collar crime is never, ever going away.

For more information what a loss prevention investigator can do for your potential issue, go here: White-Collar Crime or call 1.770.426.0547

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