Security Newswire

Gold Thefts Force Authorities to Step Up Monitoring

Law enforcement and local governments are scrambling to shut down a shadow industry that has grown up around the booming cash-for-gold business nationwide: thieves are snatching jewelry, then converting it into a quick payday at the shops. For example, the city of Milwaukee, Wis. passed an ordinance this summer to help police spot stolen jewelry being sold before it was too late to recover. Other cities are rushing to take similar measures, finding that the usual methods for tracking stolen goods weren't coping with the modern day gold rush
 
Gold buying businesses began proliferating when prices started rising in 2005, reaching more than $1,000 an ounce in 2009 and around $1,200 now. "Cash for Gold" billboards cropped up along highways, TV commercials urged watchers to mail in their gold for money and exchanges opened in unusual places like liquor stores and hair salons.
 
In Milwaukee, investigations last year at six shops found $75,000 in stolen jewelry and led to the clearing of 16 burglaries. The city fined the shops about $64,000 for failing to keep required records on sales.
 
In an effort to deter the crimes, in July, the Milwaukee Common Council voted to require all gold-buying shops to electronically submit the seller's name and photo to police, along with a photo of the items sold.

Did you enjoy this article? Click here to subscribe to Security Magazine. 

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

ASIS 2013 Product Preview

ASIS International 59th Annual Seminar and Exhibits, September 24-27 in Chicago, Illinois, will include an exhibit hall packed with innovative security solutions. Here are some of the products that will be shown at ASIS this year.

Podcasts

Virtualization and Data Center Security: What You Need to Know for 2014

Data centers are increasingly becoming the center of the enterprise, and data center and cyber security is following the same path for security departments. According to Justin Flynn, a consultant at the Burwood Group, the virtualization of data centers allows enterprises to scale more easily and faster, with a smaller footprint.

However, hosting enterprise data in the cloud can make intrusion detection more difficult – how can enterprise security leaders team up with other departments to keep aware of cyber risks and traffic, and physical and data compliance during the virtual transition? How can CISOs and CSOs discuss cyber threats with the C-Suite to get the resources they need? And how can the proper infrastructure test and verify possible malicious attacks? 

More Podcasts

Security Magazine

April 2015 security magazine cover

2015 April

In this April 2015 issue of Security, find out how to keep your enterprise resilient after a disaster in 2015. Also discover how to strike a balance between design basis threats and active shooter threats and see what's in store for the 2015 RSA Conference.

Table Of Contents Subscribe

Body Cameras on Security Officers

Body cameras are being used increasingly by police in cities across the U.S. Will you arm your security officers with a body camera?
View Results Poll Archive

THE SECURITY STORE

Effective Security Management, 5th Edition.jpg
Effective Security Management, 5th Edition

 Effective Security Management, 5e, teaches practicing security professionals how to build their careers by mastering the fundamentals of good management. Charles Sennewald brings a time-tested blend of common sense, wisdom, and humor to this bestselling introduction to workplace dynamics. 

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

Facebook 40px 2-12-13 Twitter logo 40px 2-12-13  YouTube  LinkedIn logo 40px 2-12-13Google+

Vertical Sector Focus: Critical Infrastructures

criticalhomepagethumbFrom terrorism to vandalism, it’s preparedness, response, training and partnerships. Learn about some of the critical security issues facing this sector.

Visit the Critical Infrastructure page to read more.