Employee Theft Consequences: Risk vs. Gain Theory

Herman Laskey, Jr., LPQ, CFI from losspreventionmedia.com When associates properly understand employee theft consequences, they may not ever take the risk of being dishonest in the first place. I have found that discussing with associates the risks of theft and comparing them with the potential gains greatly reduces their potential to steal from their employers. Most associates do not consider the punishments and … [Read more...]

Cyberespionage and ransomware attacks are on the increase warns the 2017 Data Breach Investigations Report

Cyberespionage hits manufacturing, public sector and education hard: 21 percent of cases analysed Ransomware attacks gain greater popularity: now fifth most common specific malware variety Tenth anniversary edition: includes data from 65 contributing organisations; 42,068 incidents; 1,935 breaches from 84 countries Cyberespionage is now the most common type of attack seen in manufacturing, the public sector and … [Read more...]

Do Retailers Make Better Loss Prevention Managers Than Security Personnel?

Employing someone with a police or investigation background in the role of loss prevention manager was once seen as a logical choice for retailers. Faced with the realisation that people, both internal and external, were stealing company assets, it made perfect sense to employ someone who was already catching thieves for a living. However, loss prevention has become a reluctant expense for many retailers due to the … [Read more...]

Five Reasons Why Classification Is The First Step To Successful Data-Loss Prevention

When looking at best practices for successful data protection, the first or second step is almost always discovery and identification. Data-loss prevention (DLP) tools can give you some sense of what you have and can monitor the flow of information, but they cannot provide identity to the degree of certainty that is required for proper data governance. In contrast, data classification provides the permanent and explicit … [Read more...]

No more ‘Sergeant Schultz’ for top executives in a crisis

How long can top executives credibly claim ignorance of malpractice happening on their watch? The bumbling Sergeant Schultz on Hogans’ Heroes became famous for his catchphrase “I see nothing. Nothing-g-g”. The joke of course was that he DID see what was happening and pretended not to. In the same way, two major reputation crises in the last few weeks raise the very obvious question – How could senior managers NOT know … [Read more...]

Loss Prevention Tips For The Peak Sales Season

So, the peak Christmas sales season is already upon us! For many retailers, the months of November and December offer the benefit of making a high dollar return on full-priced merchandise, while January provides the best opportunity to clear aged or seasonal inventory. In terms of cash passing through the registers, a retailer’s sales can be expected to rise sharply throughout the peak Christmas period. Along with the … [Read more...]

Teaching Sales Staff To Respond Effectively To EAS Alarms

Most readers are familiar with electronic article surveillance (EAS) systems and their utilisation as a fundamental loss prevention (LP) tool. A recent article stated that approximately 80 percent of American retailers utilise some EAS tools, but only 44 percent of LP professionals describe it as effectively executed. This article focuses on addressing one of the biggest downfalls when utilising EAS systems – the lack of … [Read more...]

The Cost of Security

Security is expensive, particularly bad security. The following is an example from friends who attended an outdoor event as vendors where they had paid a considerable fee to trade until 5pm each day. On this occasion, at 4.30pm each afternoon, the hired security guards would start shepherding the patrons out the gates and quite forcibly advising the vendors that they had to stop trading by 5pm, including the food and … [Read more...]

10 Basic Things Every Organization MUST-DO for Cybersecurity

by Anupam Bonanthaya These days, it is a rarity if there is no news of a high profile cyber attack or breach every week or so. This week was the French Submarine builder DCNS who is building defense submarines for India, Australia, Malaysia and Chile. Last week was SAGE. The week before was Oracle. It is a common misconception that only high profile companies in specific industries get attacked. In reality every … [Read more...]

A LOSS PREVENTION INTROSPECTIVE

The modern retail loss prevention/risk management function can be described as a multifaceted role that, to achieve sustained success, requires a multifaceted approach. Fundamentally, it is a hugely influential and important role that has the potential to deliver significant savings to the company’s bottom line if performed to its full capacity. In recent times, the role of loss prevention has shifted dramatically, moving … [Read more...]

In-Flight Revenue Risks

In-flight purchases are an important revenue stream for airlines globally, with the function allowing passengers to purchase duty free items and on-board upgrades, as well as other services such as additional food, beverages, internet and telephone use. While such features are convenient for passengers, they can be susceptible to a number of risks, including staff pilferage, passenger theft of goods/services, counterfeit … [Read more...]

Retail Loss Prevention On A Budget: The Power Of Staff Networking

  For small to medium and possibly even a large retail business, is it possible to operate a wide-ranging loss prevention program which consistently delivers company best results, under a very limited loss prevention budget? The answer is a resounding yes! To set about achieving the above, it is first necessary to look at the setting up stage and what the retail business should consider in order to get off to … [Read more...]