Articles Tagged with ''retail theft''

Thieves armed with hammers stormed a jewelry store in Memphis, Tennessee, and stole dozens of Rolex watches.

Shoppers who used credit cards or debit cards at Target between November 27 and December 15, 2013 may have been hacked.

Shrink, comprised of shoplifting, employee or supplier fraud, organized retail crime and administrative errors, cost the retail industry more than $112 billion globally last year, according to the 2012-2013 Global Retail Theft Barometer, and represented 1.4 percent of retail sales, on average.

Crooks who steal credit and debit card numbers are now using an off-the-shelf technology to compromise computerized store cash registers.

As if the retail industry hasn’t suffered enough in recent years, growing in severity, number and type, retailers are reporting that organized retail crime (ORC) has become more troublesome than ever before.

By pretending to be executives at a well-known financial institution, the alleged scammers created a bogus line of credit and spent upwards of $220,000. 

Businesses lost $30 billion a year to organized retail crime, according to The National Retail Federation. Several Cook County enterprises are teaming up to get crime data and investigation material out to retailers in seconds, not days.

Retailers in Massachusetts have been trying to get a bill passed that would crack down on organized retail crime since 2007. 

The National Retail Federation’s ninth annual Organized Retail Crime (ORC) Survey found that 93.5 percent of retailers say they have been a victim of organized retail crime in the past year, down slightly from 96.0 percent in 2012.

Back in time, I was getting a personal tour of historic computers in the Smithsonian by none other than the famous computer scientist Captain Grace Murray Hopper, who is said to have coined the term “computer bug.”