Top tips for preventing shoplifting…
Top tips for preventing shoplifting
Pretty basic list...
1. Install visible security
2. Minimise access
3. Consider anti-theft technology
4. Train staff
5. Keep an accurate inventory
6. Consider civil recovery
Some great videos from Frank Abagnale
Here is a link to some great videos from Frank Abagnale.
- Employee theft
- Positive pay
- Exclusive credit card use
- Counterfeit money
- Shredder
- Check fraud
100k through deposit manipulation…
I don't understand why this keeps happening...
Christian, a store employee, was responsible for daily deposits of earnings for the grocery store. Christian is alleged to have added up the totals of the daily deposit then transfer those totals onto a deposit slip. However, police say she would write a lesser amount on the deposit and pocket the difference.
How a company can let this happen is unbelieveable. Employee theft is one of the primary reasons small businesses fail. (1/3 of new businesses fail due to employee theft.) She took advantage of management failing to put in place the most basic of accounting practices and loss prevention techniques.
Here are just a few ways to have avoided this problem:
1. Double verification of deposits. Require two employees to verify receipts and deposits.
2. Reconcile accounts. Another person should reconcile the previous days receipts and confirm deposit amounts.
3. Random audits or a structured internal auditing process.
One interesting charge (and one becoming more and more common) was "Filing a False Tax Return for the State of Delaware".
Lisa A. Christian, 42, of Dagsboro, Delaware, was charged with 17 counts of theft and 1 count of Filing a False Tax Return for the State of Delaware.
One thing available to businesses is filing a 1099 for the money stolen by the employee. They by law have to declare all income, and pays taxes on all income (even illegal). Here is a short videofrom Frank Abagnale (video #2).
Original news story here.
Key Control
I just read this news story about employee theft at a Kmart where one of the suspects had a master key to the store! This is absolutely crazy. I'd love to know how this person got the master key to the store.
Fergus Falls K-mart Requests Theft Charges Against Second Employee Within Year
The 19-year-old employee may have been caught after another man, Jason Draak, was found in Fargo with a master key to the K-mart in Fergus Falls. Officials believe the 19-year-old sold Draak that key.
Key control is a basic requirement to loss prevention.
Off the top of my head, when I think of key control I think of...
1. Change locks when you change anyone who has access to keys.
2. Multiple "levels" of keys. The master key needs to be in the GM's hands, and other people need keys that only access what they need to access in the course of their job.
3. Keys should be tracked to whom they are issued to...
4. Keys should be locked in a safe or key cabinet when not used.
5. If a set of keys are lost, it should be treated like a 911 emergency.