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In the retail industry, the word shrinkage (or shrink) is used to refer to merchandise often lost by shoplifting. The term five-finger discount is an euphemism for shoplifting, humorously referencing stolen items taken "at no cost" with the five fingers. The first documented shoplifting started to take place in 16th century London. By the early ...
However, the National Retail Federation (NRF) said that same month that the effect of theft on retailers’ bottom lines was about the same as in previous years, with total retail shrinkage at $112 billion in 2022 (1.55% of sales), up from $93.9 billion (1.44% of sales) in 2021. External theft, including organized retail crime, represented 36% ...
Florida Gov. Ron DeSantis speaks to an audience about preventing retail theft and he signs a Retail Theft Bill into law on Tuesday, April 9, 2024, from inside a Walgreens store at the intersection ...
Return fraud is the act of defrauding a retail store by means of the return process.There are various ways in which this crime is committed. For example, the offender may return stolen merchandise to secure cash, steal receipts or receipt tape to enable a falsified return, or use somebody else's receipt to try to return an item picked up from a store shelf.
Retail theft losses ballooned to $112.1 billion in 2022, up 19% from $93.9 billion the year before, according to the 2023 National Retail Security Survey, ... Florida’s new anti-theft bill (HB ...
More than a dozen suspects are facing charges in connection with a retail theft ring in South Florida that racked up more than $20 million in losses this year alone, Miami-Dade officials said ...
Five people from Miami-Dade County are facing charges related to a large-scale organized retail theft fraud scheme that racked up 53 thefts in 13 counties, including three Treasure Coast locations ...
In the retail industry, sweethearting is a form of theft by employees at the cash register, where they give away merchandise to a "sweetheart" customer (such as a friend, family member or fellow employee). Cashiers are able to do this in numerous ways, including: [1] Scan avoidance; Price overrides; Refund fraud, gift card fraud; Void fraud ...