Are you a physical store owner “who” is fed up with Retail Fraud 3rd Degree cases? If yes, may we know what you have done to date to eradicate this plague from the grassroots? Have you fired the guilty employees, incorporated rigorous background investigation before hiring, or still considering availing of a robust retail security solution? “To be frank,” we don’t know what stage you are at present, but what we do know is “you” are looking to get rid of these retail scams as soon as possible, no?
So, now the question emerges, what do you need to do to rest easy with Retail Fraud 3rd Degree cases, right? Well, we won’t deny the “fact” that taking the measures at the store level will “definitely” reap good outcomes, but the question is will that be as effective as a modern security solution? At least, we don’t think so. “Then, what do you want us to do now to eliminate the retail frauds?” you might ask. Well, nothing much but investing in a high-end retail security solution would be the wisest decision you can make now. “But, how?” you might want to know.
Well, once you get a retail fraud prevention solution from a trusted fraud and risk management company in the US, your Retail Fraud 3rd Degree cases will minimize, or if it “occurs,” they could get caught. And let us tell you the tale doesn’t end here as, over time, you will experience a massive reduction in your financial losses due to store fraud minimization and more profits through abundant product sales. Above all, you will be able to create a more desirable environment for your newer and existing personnel where their integrity won’t be doubted, ultimately leading to a pleasurable in-store experience.
So, have you “got” enough reasons to put your money on a powerful retail security solution now? If not, you can keep reading further to learn more about physical store frauds:
What is Retail Fraud 3rd Degree?
In the simplest terms, you can understand that Retail Fraud 3rd Degree is the legal charge for an illegal act, i.e., widely known as shoplifting. In “case” you don’t “know” what shoplifting is, we must tell you it is an unethical activity that involves stealing goods or items from a physical shop while pretending to be their consumer. Ok? Got it?
Now can you tell us, why this type of scam has been categorized as Third Degree Retail Fraud?” If not, we must explain to “you” first what is actual First-and-Second Degree Retail Fraud. Take, for instance, Second Degree Retail Fraud. Any shoplifting will fall in this category only when the property at issue is worth more than $1,000. However, if the property is worth a different amount, they could get termed as First or Third-Degree Retail Fraud.
Moreover, “one thing” you must note here is that a person can also get punished for first-degree retail fraud if they “got” convicted for retail cheats in the Second Degree and many other theft-related offences based on the local law.
And do you know what the “major” difference between first-degree retail fraud and other second or third-degree offences are? “Here,” the former is a felony, while the rest two are misdemeanours.
Now, let’s see:
What does retail fraud entail?
Well, just to let you know, a person can get convicted for retail fraud, if they:
1. Take sellable goods or items away from an offline store without the owner or service representative’s formal permission
2. Have an intent to steal a specific commodity or inventory
3. Move the products without letting an authorized person at the store know about it, no matter they took the item away from the shop or just past the cashier
4. Perform the product stealing activity either inside the store or within the remaining area of the store when it remains open for the customers
Now, let’s come to:
3 Best actions you can take to fight Retail Fraud 3rd Degree at your store
1. Hire the right people
Do you know why getting the right staff at your disposal is essential? Because some recent figures show that nearly 44.5% of retail losses get caused by in-house store associates only.
“But, how?” you might shoot a question at us. So, we must tell you that in some “cases”, the store employees help retail cheats occur by signalling a team of thieves or other criminals during product theft. So, now the question arises, how to deal with this problematic situation? Well, it will help if you rigorously screen the potential employees before hiring and onboarding them at your store. For example, evaluate their resumes carefully along with tight background verification.
2. Train them on loss prevention
You must make your in-house store personnel learn how to tag the merchandise correctly and “how” to handle the matter when they identify in-store theft. Now hold on! Because that’s not all. Besides all this, you should also enlighten your workforce on “how” to prevent a retail loss. Ok?
3. Secure your assets using the state-of-the-art technologies
Lastly, you should also “spend” on supreme quality in-store cameras, cloud-based video systems, and advanced retail security solutions that can help you analyse all the “crucial” transactions and in-store data carefully. Suppose you buy and implement such retail security systems from the most excellent “fraud and risk management company in the US.” In that case, it will be a breeze to get the “real” picture of what is happening during the overall operation at your store.
On top of everything, you should also focus on inspecting the physical security of your building and deploying cutting-edge security systems that can easily track your money or merchandise.
The end remarks
Hopefully, you learned a wealth of things through this text-centric content, be it the definition of Retail Fraud 3rd Degree, what it involves, or how to deal with it. Hence, if you found this content piece “useful and valuable” and want to get the most advanced retail security system now, we recommend not hesitating to call the highly acclaimed fraud and risk management firm in the USA.