Organized Retail Crime

What to Do About the Rise of Organized Retail Crime

We’ve all heard of shoplifting. This is a well-known retail crime that most brick and mortar stores have practices in place to prevent or watch out for daily. The items stolen are usually for personal consumption. However, there is a growing type of retail crime that has victimized 92% of companies surveyed by the National Retail Federation – called organized retail crime. Impacts All Organized retail crime (ORC) is defined as when items are stolen by groups of two or more people with the intent to resell it.  It can happen anywhere, no matter if the business resides in a large metropolitan city or a small rural town. The bad news is, ORC is on the rise. Businesses must be proactive and prevent this type of mass theft before it happens or be prepared to take massive losses. Types of Retail Crime When most people think of retail crime,...

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Gift Card Fraud

Gift Card Fraud Evolves

For a lot of people, gift cards are a wonderful thing. When trying to buy a present for a “hard to buy for” person, a gift card for that person’s favorite store is the perfect solution – let them pick something out for themselves! Gift cards are also huge money makers for merchants. It is estimated that $46 billion was spent on gift cards in 2016. Gift cards bring people into a store, whether it is the physical store or online. Once there, a consumer will buy, often spending more than the initial amount on the gift card. It is safe to say that convenience and additional revenue streams are why both consumers and merchants love gift cards. You know who also loves gift cards? Thieves. Buyer beware, because gift card thieves are now hackers, committing their crime right at the source, which is the gift card systems themselves....

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