A report from the Association of Chief Police Officers (ACPO) shows that fraud is costing the UK at least GBP13.9 billion a year.
Many retailers are failing to confront theft by staff and customers, both in store and where the fraud is on line. They are giving away valuable margin which can equate to as much as 18 percent of profits per year due to a lack of convincing strategies for tackling fraud.
Those retailers that appoint dedicated profit protection managers and employ specialised computer-based forensic analysis tools to spot fraudulent activities are in a better position to combat it.