organized theft

Shoplifting, Employee and Vendor Theft: Is There A Solution?

Employee theft, shoplifting, and vendor theft are problems that the retail industry faces every single day without a clear solution. The billions of dollars lost to these crimes is a constant problem for retailers, and the losses have to be accounted for someplace else, and they need to make them up somehow to minimize their losses. The amount of sales retailers need to cover any losses is significant and not easy to do. Is preventing the loss the first step to stop the crime? Read more about this topic by clicking the links below.

Wage Theft and Shoplifting: Same Cost, Different Deterrents

A massive force is deployed against one, but not the other. (Guess which.)

ach year, shoplifters steal roughly $14.7 billion worth of goods from stores. (So says the Retail Theft Barometer.) Each year, employers steal roughly $15 billion from their workers by paying them less than the minimum wage, according to data from the Economic Policy Institute.

The treatment of these two kinds of crime, however, are completely different.

Many more resources go into trying to deter, detect, and punish the guy trying to pinch a video game system off the shelf at the local big-box store than into the grand theft the store itself may be perpetrating against its own employees—even if the retailer is taking millions of dollars from workers’ paychecks. It’s one more way that the economic crimes of the powerful are treated far less seriously than the transgressions of those with less power.

Task force teaches businesses how to thwart fraud, theft

The enormous number of ways criminals can defraud shoppers and business owners requires increasing awareness about how to combat their efforts, Greenwich police detective and state financial crimes task force member Mark Solomon told attendees of a Monday panel on how to combat identity theft and retail fraud.

“It’s a constant cat-and-mouse game — there’s always a vulnerability criminals will learn to exploit,” Solomon said during his presentation. “It’s not if (criminals) do have our information, but how many times over they have it.”

Due to its wealth and slowness to adopt more secure credit card technology, the United States has become a prime target for cybercrime and fraud, according to Solomon and his co-presenter Christopher Riley, resident agent in charge of the U.S. Secret Service’s Connecticut financial crimes task force.

Employee retail theft soars says new report

When it comes to insider theft and employee dishonesty, the news is not good for the nation’s retailers. At least that is what Mark Doyle, president of Jack L. Hayes International, one of the leading loss prevention and inventory shrink control consulting firms in the world, confides as the group announced the results from their 29^th Annual Retail Theft Survey this week.

The 23 large retailers who were surveyed comprise 16,038 stores across the country with over $370 billion in sales in 2016 and they reported 438,000 incidents of shoplifting and employee theft where suspects were apprehended. A staggering $120 million was recovered by retailers from these thieves.

“The five-year trend shows a continued increase in employee theft in both apprehensions and recovery dollars. This past year is the first decline, which was very minimal, in both shoplifting apprehensions and recovery dollars. In four of the past five years both shoplifting and employee theft apprehensions and recovery dollars have increased, and in many cases, this is with a reduced loss prevention/asset protection staff. The losses are real and the theft problem is only getting worst,” says Doyle.

How Businesses Are Combating Shoplifting

Inventory, policies and procedures, and every aspect of how you run your store should be checked regularly. Implementing policies, or business procedures in your store and never checking whether they are working or not is not profitable. Is your return policy being carried out as it was implemented? Are you letting employees go unsupervised when it comes to returns? There are many employees that are exceptional workers and work diligently and honestly, but it’s always better to maintain an atmosphere where they know the owner or management of the store are on top of things.

For more news about this and other topics, follow the links below.

Businesses rally to prevent shoplifting

TUCSON (KGUN9-TV) – Serial shoplifters cost business owners in Pima County $5.91 million a year. On Wednesday, the Pima County Attorney, law enforcement, and local retailers partnered together for the new “We Watch, We Prosecute” campaign to stop thieves.

2016 was the first year ever that 100% of retailers say they were victims of organized retail theft, according to a study by the National Retail Federation.

Police say 80% of organized shoplifters steal because of drug addiction.

The Tucson Metro Chamber brought together retailers, law enforcement and prosecutors to form the Coalition Against Retail Theft (CART).

CART’s “We Watch, We Prosecute” campaign will:

Educate retailers and consumers on protecting themselves from organized theft through workshops.

Increase tools for retailers to identify and help prosecute organized retail thieves by working more with law enforcement.

Westport police capture serial shoplifter

Detectives from the Westport Police Department have arrested a man they say is responsible for a number of shoplifting incidents at Lee’s Supermarket.

Police arrested Gutemberg Freitas of Westport for allegedly shoplifting more than $150 during a number of visits to the supermarket. Freitas was dubbed the “gassy bandit” after taking a package of Beano food enzyme supplements out of its packaging and leaving the store without paying for the supplements.

Police say Freitas, on a number of occasions, removed the Universal Product Code (UPC) labels from items then swapped them out with less expensive items. His thefts trace back as far as November 2016.

Diebold Nixdorf debuts world’s smallest self-checkout at National Retail Federation’s BIG show

CLEVELAND, Ohio — Imagine heading to your favorite supermarket and having the store know not only that you’re coming in, but what you plan to buy. Then as you walk through the aisles putting items in your cart, you’re also scanning them with your phone, which keeps a running tally of how much you’re spending as you go.

When you’re ready to check out, you bypass the lines at the registers and head straight to the self-checkout terminal, where you pay for your purchases with cash or a credit card swipe, and walk out.

That’s the kind of scenario that Diebold Nixdorf, the Summit County-based ATM and bank security company, envisions as it unveils what it calls “the world’s smallest self-checkout concept” at the National Retail Federation’s NRF BIG Show in New York on Jan. 15-17.

Diebold Nixdorf’s latest innovation lets customers withdraw cash or pay for their purchases at a kiosk that’s less than 10-inches wide, or the length of one and a half dollar bills. The kiosks take up a fraction of the floor-space of current ATMs and self-checkout registers and combines those abilities within a single unit that can fit almost anywhere, the company said.