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Loss Prevention Technology Helps Reduce Theft by $2.6B in 2011

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Loss-Prevention-Technology-Helps-Reduce-Theft-by-$2.6B-in-2011

According to the National Retail Security Survey (NRSS), retailers lost $34.5 billion in theft in 2011, a $2.6 billion decrease from the previous year.

The study tracked shoplifting, employee theft, fraud, and administration error. U.F. Criminologist, Richard Hollinger said the decline in theft was a result from enhancements and improvements in loss prevention technologies and programs.

Employee theft has always had the largest effect on retail theft, shopping was second. Businesses lost $15.1 billion to employee theft.

Loss prevention technologies include RFID (radio frequency identification tags), video surveillance systems and analytics, along with other reporting measures.

To read this article, click HERE.

Source: Security Sales & Integration - June 21, 2012