The Modern Methods for Retail Theft
Managing retail loss, or shrink, has always been a priority for stores, but the recent downfall of the economy has resulted in downsizing, lower budgets for security technology, and increased customer theft.
Though traditional shoplifting still runs rampant, criminals have also been found to use more ingenious methods as of late.
- Counterfeit couponscan wreak havoc on a store's generally low profit margins; one store recently lost over $150k thanks to a counterfeit coupon that was used over the course of just a few days.
- Self-checkouts, lacking supervision or the proper training of employees, can be a large source of retail fraud.
- Sweethearting is used by cashiers to bypass scanners in an effort to pass items to customers without actually ringing them up in the cash register.
- When a cashier "builds a bank," he or she voids particular transactions and pockets the money paid by the customer.
- Refund fraud occurs when a cashier processes a refund for an item and puts the resulting change onto a giftcard for him- or herself.
For more details about these methods, read the original article.