4 Subtle Examples of External Retail Fraud
It’s no secret that retailers suffer tremendously from fraud and other losses every year. A 2019 survey by the National Retail Federation puts those losses at more than $700,000 per $1 billion in sales – and that figure grows every year. Whether after cash, gift cards or merchandise, external players are to blame for a large portion of retail fraud and stopping them should be a top priority for retailers.
Enter prescriptive analytics. Prescriptive analytics is a software methodology that combs through massive amounts of data to determine:
- What is happening
- Why it happened
- How much it is costing the business
- What to do about it
- Who should do it
It is a must-have tool for the modern asset protection (AP) professional, offering them higher average case values, better case-resolution rates and easier overall investigations. Download to learn more.