The National Retail Federation urged the Senate to approve legislation introduced in the chamber this week that would create a new tax credit intended to ease the cost of steps taken to make stores and other workplaces safe during the coronavirus pandemic.
Theft, fraud and losses from other retail “shrink” totaled $61.7 billion in 2019, up from $50.6 billion the year before as industry security executives reported increases in the number of shoplifting, organized retail crime and employee theft incidents, according to the annual National Retail Security Survey released by the National Retail Federation.
The National Retail Federation said it agreed with a warning from the FBI that new chip-based credit cards are safer than traditional cards but still vulnerable to fraud and need to be used with a PIN to minimize risk.
Businesses lost $30 billion a year to organized retail crime, according to The National Retail Federation. Several Cook County enterprises are teaming up to get crime data and investigation material out to retailers in seconds, not days.
The National Retail Federation’s 2011 Loss Prevention Conference announced that J. Paul Raines, CEO of GameStop and Albuquerque Chief of Police Ray Shultz will address more than 2,600 retail loss prevention executives during the three-day event.
