SECURITY
INSIDE JOB: ARE RETAILERS UNDERESTIMATING INTERNAL THEFT?
When internal theft is a rising threat and external criminals are becoming more sophisticated, how can retailers keep a grip on security? Monica Heck investigates
E
mployee theft could be under-reported by businesses in the UK and Ireland, making it a major area of focus for retailers trying to tighten up their loss
prevention (LP) and security measures. Speaking at the Dublin Retail Fraud show this summer (Shoplifting and employee theft top Irish retail concerns, RetailTechnology.
co.uk, 21 July 2014), Paul Bessant, Retail Knowledge managing director felt that the data his organisation had collected in North America could be a more honest reflection of the situation than the current Irish and UK results, which show shoplifting as the top source of loss, followed by employee theft. Across the pond, employee theft is reported in the Retail Knowledge US Retail Fraud Survey 2014 as the highest area of store loss by 38% of retailers, with shoplifting coming in a distant fourth with only 11%.“As a personal point of note, I think it’s difficult for retailers to admit but I believe that internal theft is actually greater than external theft,” said Bessant. “It’s taken a number of years for the UK survey to admit it but the US survey admits it.
24 Autumn 2014
www.retailtechnology.co.uk
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