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In retail, brick-and-mortar stores experience loss or shrink due to shoplifting, fraud, employee theft and human error. To mitigate against this, many have dedicated loss prevention (LP) personnel who use a variety of tools, including in-store video surveillance systems and point of sale (POS) systems, to deter and investigate theft. But, despite the continued best efforts of LP teams, shrink is on the rise.
More than 279,000 shoplifters and dishonest employees were apprehended in 2018 by just 20 large retailers who recovered more than $114 million from thieves.
Coworking spaces are extremely popular with millennials in particular (68 percent of coworking tenants are millennials), and two-thirds of coworking tenants in this age group are interested in unlocking doors with smartphones over traditional methods.
Masharn Franklin was in charge of garnishing money from the paychecks of city employees, and the government says she embezzled money by issuing checks in the names of her relatives.
Cybersecurity gets much attention, yet physical security and investigations are still a key element in enterprise security, particularly with insider threats
U.S. businesses affected by employee theft lost an average of $1.13 million in 2016. Small and midsize businesses accounted for 68 percent of cases, and their median loss last year was $289,864.
Seventeen percent of employee theft in organizations with fewer than 500 employees occurs in the financial services industry, according to a new report.
Nearly 72 percent of U.S. federal actions involving employee theft in 2014 involved small businesses – organizations with fewer than 500 employees, according to the 2015 Hiscox Embezzlement Watchlist. Within that group, four of every five victim organizations had fewer than 100 employees, and more than half had fewer than 25 employees.
