Move Over Tony Soprano: Organized Retail Crime on the Rise
by Rebecca Button on June 4th, 2008
A recent study released by the National Retail Federation reports that the number of businesses victimized in the past 12 months is up from 79% in 2007 to 85% so far in 2008. More and more businesses are seeing their stolen merchandise popping up for sale in other locations (the internet clearly being one of the most prevalent places).
E-fencing is quickly becoming the primary modus operandi for thieves as they can resell the stolen merchandise anonymously without raising any eyebrows. One of the most important findings is how much "new in box" items are worth to the criminals. These items can render up to 70 cents on the dollar whereas traditional black market methods only render around 30 cents. This means "new in box" products are being stolen at a higher rate than ever. Loss prevention respondents estimate that nearly 40% of current "new in box" items for sale on auction sites is stolen.
The survey’s conclusion sites training and awareness, utilizing exsisting relationships among trade associations and the government and communication/advocacy as solutions to help reduce this trend. To read the full report, click here .