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Published on Mar 4, 2012
I know what you are thinking --- not my employees, they would never steal from me. Well I have some disturbing news for you. If you have employees there is a very good chance at least one of them is stealing from you. According to the Association of Certified Fraud examiners, the typical business will lose an average of 6% of revenue from employee theft. The frequency of internal theft as compared to external theft is slightly lower, but the loss per incident is much higher as it can often occur over a period of time. The Retail Council of Canada estimates that 1/3 of "inventory shrinkage" is caused by internal theft. This translates to more than 1 billion lost dollars among retail businesses.
How can you minimize internal theft? One of the leading experts in Retail Loss Prevention, specializing in both internal theft as well as external theft shares some tips on reducing internal loss. He reminds retailers that sometimes your best customer can be a shoplifter and your best employee can be a thief