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Shrinkage in retail, a comprehensive update - Part2
Submitted by bhanu on Tue, 10/13/2009 - 02:33.
Shrinkage levels in india at 3%, seriously? Perhaps yes, but the culprit is not the average consumer. For one the art of shoplifting has not achieved the status and maturity of western world, moreover in most of the stores, systems are designed by assuming that the customer is there to steal something (like checking the bags, bag deposits, frisking etc). But if we take the data as given, what are the ways to stop this menace? Anti-shoplifting options Shoplifting can be prevented from taking place or can be detected once it has happened. Most of the retailers depend on both the strategies. Examples of such options are: Closed-circuit television: CCTV records the retail floor activities and in case of any suspicious activities the authorities can refer the videos. Such videos are also very useful if the case goes into legal proceedings. CCTVs are both preventive and detective in nature, many shoplifting thoughts are nipped in the bud by the presence of such cameras. In many stores there are dummy cameras to fool shoplifters.
CCTV is more effective if used in conjunction with an advanced technology like EAS. While EAS system can alert of a potential shoplifter, the video can provide ample proof to prosecute the offender.
Electronic article surveillance
Electronic article surveillance is a technological method for preventing shoplifting from retail stores. The EAS system monitors the merchandise, not the customer. Special electronic tags are placed on predetermined items throughout the store, and surveillance systems are placed at store exits which sound an alarm when tagged merchandise is detected. This technology is quite widely employed by the modern retailers these days.
Loss prevention personnel
Loss prevention personnel will patrol the store in a low key manner. They may try on merchandise and roam on the shop floor, all the while looking for signs of shoplifting and looking for possible shoplifters. Uniformed guards In a country like India the presence of uniformed guards acts as a strong deterrent to shoplifting activity Baggage Counter By not allowing the customers to take their bags inside, the store minimizes the chances of shoplifting or otherwise embarrassing moments of baggage inspection at the time of exit Exit inspections Shoppers in some large stores are asked when leaving the premises to have their purchases checked against the bill. This is a mean to counter both shoplifting as well as internal thefts (an employee colluding with the customer and deliberating cutting the lower bill). In India some of the biggest chains are practicing this. Close customer service Floor attendants are instructed to greet, follow, and offer help with customer shopping. Shoplifters are not comfortable with this attention and will go somewhere else. Locked merchandise Some expensive merchandise (or something which is difficult to Tag or very easy to steal, like goggles, earrings etc) will be in a locked case requiring an employee to get items at a customer's request. The customer is either required to purchase the merchandise immediately or it is left at the checkout area for the customer to purchase when finishing shopping. This prevents the customer from having a chance to conceal the item.
Dummy cases Some stores will use dummy cases, also known as "dead boxes", where the box or case on the shelf is entirely empty and the customer will not be given the item they have paid for until after the transaction has been completed, usually by other Store staff. We see most of the mobile retailer opting for such dummies. Some companies might also use dummies to reduce the inventory load. Personnel policy The choice of store and security personnel can strongly affect the ability of shoplifters to succeed. A study conducted in US by National Retail Security Survey found a link between employee turnover (attrition) and shrinkage. The possibility of a newer employee attempting fraud is higher, because they have little at stake. Moreover they are new to the system and might not identify/stop a fraud compared to the old time loyalists. So it’s important to retain your good employees and it pays in many ways other than the obvious. Test shoppers
Lesser value items are in category B and bulk and low-value items like imitation jewellery form category C. alcohol.5 per cent of sales. which is checked only once a year. Indian retailers are not forthcoming with their shrinkage levels. The shrinkages witnessed by Indian organized retailers are in the range of 0. perfumes.5% to 1% 1% to 1. Vishal Spencer’s retail Unorganized sector. Pantaloons has set up a Perpetual Inventory system across all its stores to regularize weekly stock take of Top 100 high shrink articles. perhaps because they are a bit high for most of them or maybe because most of them might not know the exact figures themselves. Some of the most pilfered goods from new format stores include cosmetics. small electronic gadgets like CDs and video games. women’s apparel.3 per cent to 1. includes high-value and often-stolen items — jeans and dupattas. Reliance retail.5% <!--[endif]--> Representative Retailers Shopper’s Stop. Similarly Shoppers’ Stop has divided all its products into three categories. razors. Stores like MORE and Spinach keep the most frequently pilfered items (like razors and chocolates) placed next to the cash counter. All customers are always visible to sales staff in such settings. under employee supervision. Retailers also have their own ways of minimizing shoplifting. An estimate of the shrinkage levels among Indian retailers is like: Shrinkage level Less than 0. Category A.5% 0. which is checked four times a year. Book shelves in Landmark stores are under 4 feet so as to give it an open space feel.Subject of testing is primarily the alertness of surveillance staff and of the staff operating in the shopping areas. On the lighter side though “It requires real skills to defeat dozens of cameras & all these modern technologies : )” . The retailers who were blinded by the growth targets were finally forced to improve their efficiency by looking at their cost structure and shrinkage levels. We can hope that we will soon give up our top position in that rather unflattering list. BATA Big Bazaar.5% More than 1. mainly fancy & apparel shops The recent downturn might have just changed the things a bit.
Now as promised here are some interesting posters: shop lift -2 .
No shoplift .sho p lift -No drugs.
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according to the latest Global Retail Theft Barometer from the Centre for Retail Research » Comments By Joan Goodchild. fashion (especially branded items. This represented an increase of +5. Also see Organized Crime and Retail Theft: Facts and Myths The increase in shrink was felt all over. CDs. leather. Senior Editor November 10. the highest increases in shrink rates were experienced in Slovakia (+9. fresh meat/expensive foodstuffs. and electronic games/wii. Cosmetics. That is according to the 2009 Global Retail Theft Barometer. beauty supply and pharmacy-related business were third on the list. expressed as a percentage of retail sales.5 percent) and were strongly influenced by a large increase in shoplifting. alcohol. mobile/cell . according to CRR. perfume. DVDs. 2009 — CSO — Desperate people impacted by the recession resorted to retail theft in greater numbers over the past year. India.2%).S..Report: Retail Shrink. The lowest rates were in liquor. infant formula.8 billion. clothing and fashion and accessories and the auto parts. including the U. which monitors shrinkage and crime in the retail industry. The report surveyed over 4. an annual report conducted by the Centre for Retail Research.200 major retailers around the world and looked at key trends in retail shrinkage and crime in 41 countries and regions. (where shrink rose by +8. the report said. Theft Up in 2009 Recession woes lead more to stealing. and increased stock loss globally.43 percent of global retail sales. 'Shrinkage' or 'shrink' is defined as stock loss from crime or waste.8% to reach 1.8%) and South Africa (8. cosmetics/face creams and perfumes. CRR said significant increases in shrink rates occurred in the U.61% of retail sales). Retailers reported that thieves stole a wide range of items.35 percent the group said. beer/off-licence retail establishments. hardware and building materials industry. Japan and countries in Europe. The highest shrink rates were in apparel. China.S. However.1 percent) and in Middle East/Africa (+7. but tended to focus on expensive popular branded items including: razor blades/shaving products. an average of 1. Various types of retail business were impacted by shrink in 2009. The total shrink in the 41 countries surveyed across the world cost retailers $114. but retailers still spent less on technologies that help hinder theft.9 percent over last year's average shrink of 1. All except three countries experienced an increase in shrinkage. wine. Average shrinkage rates increased most in North America (+8. handbags and accessories).
6 percent) of the shoplifting increase was caused by the recession and 22. and watches.Philipsburg man charged in theft from BTO store: A Philipsburg man was charged with retail theft a. 41. In fact.ly/cLAHUE centredailycom .. SD cards. according to the survey.4 percent." CRR officials said in a statement on the findings. organized crime and vendor fraud.2 percent of the rise in employee crime.5 percent of retailers found employee theft had increased. However. Retailers believed that one-third (33. Satellite navigation equipment and laptops were also increasingly stolen. employee theft. The reason for shrink included shoplifting. whilst reduced profitability has led retailers to cut their security spending. Other stories by Joan Goodchild Sign up for the CSO Tech Watch newsletter. despite the increase in crime. Crime has risen in most countries. particularly expenditure on security equipment such as CCTV and EAS (electronic tagging of merchandise). iPods/MP3 players. according to the report. electronic goods. Read more about loss prevention in CSOonline's Loss Prevention section.phones.2 percent of retailers had experienced a significant increase in shoplifting in 2009 and 19. » • • • • • Email Print Comments Digg This SlashDot Top of Form retail theft Search Tweets Bottom of Form Breaking News .. which fell by 11. "The economic recession played a significant part in this increase. http://bit. retail security spending has fallen.
ly/bvVX3d macavityabc 23 hours ago 0 retweet reply He was convicted five times of retail theft .. Looks like it might be six. See his picture and more in the blotter: http://bit.iwatson.3 days ago 0 retweet reply The Most Stolen Products In America: retail theft : Most Stolen Products In America Include Alcohol.net/E7X1j9 shpdog Yesterday 0 retweet reply . http://bit. retail theft ) http://url. Cosmetic. THEFT . SAMUEL LEE (UCSO) (THEFT BY DECEPTION . Meat.ly/bqKezn oprfcrime 16 hours ago 1 retweet reply SNIDER. BURGLARY..
the Organized Retail… http://goo.net/eAkraa shpdog 2 days ago 0 . schantzlaw 2 days ago 0 retweet reply GILLESPIE.pig south .adult female in custody for retail theft sheboyganscan Yesterday 0 retweet reply RILA Urges Support For Organized retail theft Legislation: The bill. BRIDGET (UCSO) ( retail theft ) .http://url.gl/fb/GDEBD retailguru1 4 hours ago 0 retweet reply Hoping my last retail theft case pleads in drug court tomorrow.iwatson.
. the Organized retail theft Investigati. oakleavesnews 2 days ago 0 retweet reply Retail ORC bill may see action this week in Congress: This week.R..retweet reply Cop injured in chase after call of retail theft at Walgreens. H. 5932. http://bit.ly/9t8Mrv point0fsale Yesterday 0 retweet reply Top of Form Load More What are you thinking? Search results powered by Insert this article url Follow CSOOnline 140 Tweet .
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LOSS PREVENTION ESSENTIAL READING Mall rats: organized crime and shoplifting Point of sale security Restaurant loss prevention and cash handling King Rogers: loss prevention basics Richard Hollinger: shoplifting and retail shrink Loss prevention investigative tactics Loss Prevention Webcasts • Smart Techniques for Application Security .
Complexity and Frustration Out of Two-factor Authorization Integrating Desktop Power Savings with Patch Management Three ways to Prevent USB Insecurity in Your Enterprise Key Steps to Preventing Cyber Attacks 3 Strategies to Protect Endpoints from Risky Applications Technical Article: Cloud Computing for the Enterprise » View All Loss Prevention White Papers Latest Posts » More blogs Lohrmann On GovSpace by Dan Lohrmann • • • Technology Priorities Are Still Consolidation and Security Cybersecurity Governance: State CISO Roles .The Mayberry Paradox Peeling Apples . Are you protected or prepared to pay? » View All Loss Prevention Webcasts Loss Prevention White Papers • • • • • • Take the Cost..Past.• • • • • The Business Case for Data Protection Survival Guide: Overcoming the Obstacles to Effective Risk Management Utility Mandate: Software Security for the Smart Grid Risk-driven Compliance and Security Management CyberAttacks . Present and Future Security Career Problem 7: Perspective Stuck in a Box Security In the (Apple) Core by Chad McDonald • • • Shiny New Security Shoes Insecure but Safe .Reconsidering Mac Security ..
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000 billion ISK in 2006. Shrinkage is a global problem At the seminar. when goods are not correctly delivered from vendors. two specialized types of software from the Danish software company Milestone Systems were promoted for identifying and analyzing possible shrinkage by theft or error. Marketing Manager at The Articles Videos Security Center. European shrinkage is estimated to have been 2. statistics for European shrinkage were discussed. second is any types of clerical errors. Ministry of Justice. and third is shrinkage inside the store which can be traced to both customers and employees. Milestone is in the forefront worldwide in surveillance software for managing IP cameras. Coverage Archive shrinkage problem is quite significant in most retail businesses and to "The • • • • be Press Center able to fight it is vital. The Security Center of Iceland is a Milestone partner in Iceland. Omar states that shrinkage can basically be categorized in three different sectors: first.000 ISK are lost in shrinkage every minute.01004172846588 FORID:9 Search Submit Bottom of Form News • • • • Sign up for news Events Press Releases News Coverage ○ ○ ○ ○ ○ ○ 2010 Retail shrinkage is increasing by 8-15% per 2008 year 2009 2007 2006 The Security Center of Iceland recently held a seminar where new ideas for News fighting shrinkage were presented. and in Denmark alone 84. and amongst current Milestone users in Iceland are Reykjavik City. and the retail chain Kaupas. ." says Omar Jonsson. At Industry News the seminar.
the branch moved from the top of the problem list to bottom ten. as eventually the customer is always paying for the damage in the end." reports Omar. it also highlighted that a large amount of thefts can actually be traced not just to regular employees but also to managers and that is a very shocking finding. Another interesting point of view is that 10% of goods are targets for 60% of the shrinkage. and after doing that. Two types of software "Milestone XProtect Transact enables companies to link transaction data from cash registers with video so it’s easy to compare data with goods on the table. Calculations from Milestone customers on ROI that were presented at the seminar show that the investment has paid off within a year in many cases. to look into the 10% of products especially involved in the majority of shrinkage and see if they are properly handled at the cash register. "The system is quite simple to implement and is a great choice for smaller retailers. "Milestone XProtect Retail is much more advanced software which . After this successful evaluation Statoil started to implement the system in other service stations and now have it in around 150 of Statoil’s 300 service stations. After implementing the system. such as cigarettes and expensive products. to increased security efforts inside stores that have limited the possibility for customers to steal products. they found out that they had significant problems with the staff which they had to fight. for example."The problem is enormous and the retail industry is bleeding money in shrinkage." Omar informs. which means that for shoplifters special types of products are much more appealing than others. "In this specific research. Statoil installed the system for evaluation at a gas station in Denmark that had the highest shrinkage (Statoil runs approximately 300 service stations around Denmark)." says Omar." says Omar. for example. This shift can be traced. Many retailers are putting significant effort in fighting shrinkage as it can really be a key factor for their business. At the seminar it was revealed that worldwide shrinkage affects from 1. but more recent studies speculate that up to 80% comes from employees. The system allows operators to use text search. Earlier studies showed that approximately 50% of shrinkage from inside the store was caused by employees and 50% by customers.53% of revenue in the retail industry and has been increasing by 8-15% per year (different between countries). which could lead to lower prices if they could handle the problem. and the number is increasing rapidly. and with that possibility it’s easy.
and this software allows them to identify exactly what types of transaction they want to observe based on their individual needs . They have to use some intelligence to sort out the transactions most likely to be linked to shrinkage.is. "The system was installed in the IKEA pilot store in the Netherlands with great results where ROI was measured in less than a year. get better results out of their business and hopefully with the benefit for customers in lower prices. Security Center of Iceland has specialized in providing security equipment and guarding services for home and businesses since 1995. Fire distinguishers. © Site policy Mileston e Systems 1998Contact us Suggestions . gain and the ROI is critical for them. it may not be cost effective to observe them all for mistakes. Security Center of Iceland (ORYGGISMIDSTODIN) Security Center of Iceland has specialized in providing security equipment and guarding services for home and businesses since 1995. For companies who have tens of thousands of transactions.collaborates data to a single server.vb.oryggi.it can be different between companies or branches where the main problem lies. access control etc.is/company_profile/. see the full article in Icelandic here.oryggi. I think Icelandic retailers are well aware of the shrinkage problem and are doing what they can to fight it. 20 March 2007 on page 10 in the largest Icelandic business newspaper.is/company_profile/. I think many of them will use this new technology sooner than later to help them fight shrinkage. access control etc. Vidskiptabladet: www." Omar explains. where you can define various criteria for the system to observe. Fire distinguishers. They provide total range of security including CCTV. They provide total range of security including CCTV. Learn more at http://www. This article was translated to English from an article that ran Tuesday. "Retailers are like all businesses: always looking into cost vs." The interest is high Omar relates that Icelandic retailers have shown great interest in this new technology." he concludes. Learn more at http://www.
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○ ○ ○ Articles Industry News Videos Top of Form 01004172846588 FORID:9 Search Submit Bottom of Form News • • • • Sign up for news Events Press Releases News Coverage ○ ○ ○ ○ ○ ○ 2010 2009 2007 2006 The Security Center of Iceland recently held a seminar where new ideas for News fighting shrinkage were presented. . At Industry News the seminar. second is any types of clerical errors. Coverage Archive shrinkage problem is quite significant in most retail businesses and to "The Retail shrinkage is increasing by 8-15% per 2008 year • • • • be Press Center able to fight it is vital. Omar states that shrinkage can basically be categorized in three different sectors: first. two specialized types of software from the Danish software company Milestone Systems were promoted for identifying and analyzing possible shrinkage by theft or error. and amongst current Milestone users in Iceland are Reykjavik City. The Security Center of Iceland is a Milestone partner in Iceland." says Omar Jonsson. Marketing Manager at The Articles Videos Security Center. when goods are not correctly delivered from vendors. Ministry of Justice. Milestone is in the forefront worldwide in surveillance software for managing IP cameras. and the retail chain Kaupas. and third is shrinkage inside the store which can be traced to both customers and employees.
53% of revenue in the retail industry and has been increasing by 8-15% per year (different between countries). and the number is increasing rapidly. they found out that they had significant problems with the staff which they had to fight." reports Omar.Shrinkage is a global problem At the seminar. European shrinkage is estimated to have been 2. statistics for European shrinkage were discussed." Omar informs. which means that for shoplifters special types of products are much more appealing than others. After implementing the system. and after doing that. Many retailers are putting significant effort in fighting shrinkage as it can really be a key factor for their business. it also highlighted that a large amount of thefts can actually be traced not just to regular employees but also to managers and that is a very shocking finding. and with that possibility it’s easy. After this successful evaluation Statoil started to implement the system in other service stations and now have it in around 150 of Statoil’s 300 service stations. The system allows operators to use text search. Earlier studies showed that approximately 50% of shrinkage from inside the store was caused by employees and 50% by customers.000 ISK are lost in shrinkage every minute. "The problem is enormous and the retail industry is bleeding money in shrinkage. as eventually the customer is always paying for the damage in the end. such as cigarettes and expensive products.000 billion ISK in 2006. but more recent studies speculate that up to 80% comes from employees. which could lead to lower prices if they could handle the problem. for example. "In this specific research. for example. to increased security efforts inside stores that have limited the possibility for customers to steal products. Two types of software "Milestone XProtect Transact enables companies to link transaction data from cash registers with video so it’s easy to compare data with goods on the table. Another interesting point of view is that 10% of goods are targets for 60% of the shrinkage." says Omar. to look into the 10% of products especially involved in the majority of shrinkage and see if they are properly handled at the cash register. and in Denmark alone 84. the branch moved from the top of the problem list to bottom ten. This shift can be traced. Statoil installed the system for evaluation at a gas station in Denmark that had the highest shrinkage (Statoil runs approximately 300 service stations around Denmark). . At the seminar it was revealed that worldwide shrinkage affects from 1.
They provide total range of security including CCTV. Learn more at http://www. For companies who have tens of thousands of transactions. Calculations from Milestone customers on ROI that were presented at the seminar show that the investment has paid off within a year in many cases. Fire distinguishers." The interest is high Omar relates that Icelandic retailers have shown great interest in this new technology. "Milestone XProtect Retail is much more advanced software which collaborates data to a single server." he concludes.vb. Vidskiptabladet: www. I think many of them will use this new technology sooner than later to help them fight shrinkage. where you can define various criteria for the system to observe. access control etc. 20 March 2007 on page 10 in the largest Icelandic business newspaper.is/company_profile/. This article was translated to English from an article that ran Tuesday.it can be different between companies or branches where the main problem lies. They provide total range of security including CCTV. access control etc. see the full article in Icelandic here." says Omar. get better results out of their business and hopefully with the benefit for customers in lower prices. They have to use some intelligence to sort out the transactions most likely to be linked to shrinkage. Fire distinguishers. it may not be cost effective to observe them all for mistakes. gain and the ROI is critical for them. .is. "Retailers are like all businesses: always looking into cost vs."The system is quite simple to implement and is a great choice for smaller retailers.is/company_profile/." Omar explains. "The system was installed in the IKEA pilot store in the Netherlands with great results where ROI was measured in less than a year. Security Center of Iceland (ORYGGISMIDSTODIN) Security Center of Iceland has specialized in providing security equipment and guarding services for home and businesses since 1995.oryggi.oryggi. Security Center of Iceland has specialized in providing security equipment and guarding services for home and businesses since 1995. I think Icelandic retailers are well aware of the shrinkage problem and are doing what they can to fight it. Learn more at http://www. and this software allows them to identify exactly what types of transaction they want to observe based on their individual needs .
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SOX... DoD 8.○ • • • • • • • • • • • Archive SC World Congress Archive Topic Center: Financial Services Health Care Retail Government SC Awards SC Canada SC Scholars Cybercrime Corner RSS | Login | Register Download Free White Paper Research: Wireless Security: Ensuring Compliance with HIPAA. GLBA. 2007 • • • • Print Email Reprint Permissions . PCI. Home > News > Features > How one retailer fights insider theft with fingerprint readers Features How one retailer fights insider theft with fingerprint readers Jim Carr November 01.
Holt Renfrew.• Font Size: A | A | A Related Articles • • Former New Jersey systems administrator gets 30 months in prison for 'logic bomb' Changing the POS security burden More In Features • • • • • Cloud security: Parting clouds Investigating cybercrime Internet Protocol: Generation 6 SC World Congress: Problems solved Case study: Up against the wall RELATED TOPICS • • Mobile Endpoint Security High Tech Biometric technologies mean many things to many people. which is merchant lingo for often significant cash and property losses due to employee theft. in its first three months the technology paid for itself in loss . has deployed a fingerprint-based biometrics point-of-sale (POS) system that tracks sales associates' transactions at cash registers. a biometrics system has meant the virtual elimination of so-called shrinkage. But in the retail world of Anne Hodkin. one of Canada's premier high-end fashion and lifestyle shopping retailers. while others may have visions of using a fingerprint scan to gain physical access to highly confidential areas. Deployed in 2001. Some might think of passing through airport security checkpoints without hassle. director of information technology at Holt Renfrew.
On top of this. eliminating shrinkage is a big deal to retailers. For Holt Renfrew. Hodkin explains. and the $49. The number of dishonest retail employees caught stealing. says Hodkin. This equals almost six times the amount taken by shoplifters. Hodkin says. Holt Renfrew also uses the fingerprint system.994. says Hodkin.15 in 2005.” she says. she adds.-based DigitalPersona. was not trivial. making sales associates accountable for transactions by requiring fingerprint authentication shows clearly that there are consequences for committing fraudulent transactions. phone number. Hayes International stats showed. Holt Renfrew uses the biometric system to control access to the records of its personal shopper services. a consulting firm specializing in loss prevention and inventory-shrinkage control. these details are used by salespeople to make purchase recommendations when the customer re-enters the store.prevention. which comes in around $126. to track retail sales employees' time and attendance. it means they get paid for the sales transactions they handle. For instance. Both sides win in this application of biometrics. On the one hand.87.9 million recovered in 2005. Their research revealed that the average dishonest retail employee caught stealing cost an employer $724. When that sort of activity occurs. whose compensation is at least partially based on commission. with a biometrics-based attendance system in place. This has allowed the company to significantly reduce overpayment associated with what's known as buddy punching — one employee using another employees' identification number or password to clock that person in when they are actually absent. the employee will be fired. sizes. In addition. which runs around 68. Hayes International. and they get paid faster as well. For Holt Renfrew's sales associates. These records contain the name. “Once you catch a few people doing that. paychecks simply are more accurate because paychecks reflect the number of hours the employee actually worked. And in regard to time and attendance. Restricting access via the fingerprint system offers two benefits. according to the recent Retail Theft Survey conducted by Jack L. personal preferences and recent purchase details of all-important repeat customers. Holt Renfrew can view when employees credit a refund to their own credit cards after having logged into the cash register via the fingerprint reader. from Redwood City. there's no pressure from peers to cover for others. And no mistake about it. it's apparent to anyone else that they'll get caught. It not only limits . Calif.
a senior consultant with the International Biometric Group (IBG).and back-office bonds sales and accounting . According to IBG.4 billion by 2012.7 percent) following. adoption of biometric technologies is moving slowly. Breaking adoption rates down.” Slow growth Despite the success of the Holt Renfrew deployment. Look and feel is very important to us.who can view sensitive customer information. Despite fears in the early stages of implementation that the company's sales personnel would resist the system. As biometric technologies become pervasive by private employers and the government. but it ensures that only employees with the necessary skills are allowed to work with valuable repeat customers. the company says. and we didn't want anything big or clunky. a New York-based bank for more than 300 community banks in Japan. to deploy that latter technology as an access solution. they're absolutely sure that anything registered against their fingerprint is something they did.” she adds. In a similar vein Shinkin Central Bank. people are realizing that maybe their original fears were displaced. according to Hodkin.” explains Hodkin. Holt Renfrew picked DigitalPersona's product for. will eventually comprise about 10 percent of the market. IBG expects fingerprint-based systems to capture 38. At the same time. such as consumer ID. Blood vein-pattern recognition. and they want to be accountable for just what they do. with face recognition (19 percent) and iris recognition (7. that growth will be driven by government identity management programs and private sector initiatives. is among the first companies in the U. says Victor Lee. a technique that's been around since the 1980s.S. among other reasons. With this system. its small footprint.1 percent of the biometric market in 2007. and we also wanted something discrete. something that would fit in with the ergonomics of our counters. there's increased acceptance of biometrics in both the workplace and in day-to-day life. In fact. “Most of the staff are young people. Lee says. “Real estate in the store is at a premium. Shinkin is using Hitachi's VeinID product to control physical access to offices where its front. the New York-based integration and consultancy firm predicts that the market for biometrics will more than double — from $3 billion this year to $7. according to analysts. “It's economical and reliable. the staff really likes it.
systems are used. he says. One is its ease of deployment and use. Shinkin deployed the VeinID system because of financial accounting mandates. its front office investment employees.000 VeinID units in Japan. This helps Japanese banks meet government regulations that require enhanced security measures for ATM access. The VeinID system operates similarly to a fingerprint reader. then create and store a numerical template that represents the image. aren't allowed into the back office accounting area where trades are confirmed. Shinkin's deputy general manager.and palm-based biometric systems are too big for the company's front door. And. Aoki says. Instead of capturing the ridges and curlicues on the epidermis. Hitachi has sold more than 30. Shinkin's employees don't have to carry keys. He was also concerned that fingerprint systems would give false readings when employees injure their fingers. Hitachi's North American sales manager. but also for physical access to doors and logical access to PCs. Both systems first record an electronic image of the finger. Hitachi's vein readers contain a secondary security device that senses whether the finger is still attached to a living human. according to Lew Iadarola. and a camera captures light reflected off the hemoglobin in the vein. Like much of today's security-related spending. who buy and sell bonds. Fingerprint systems also don't offer what he calls live-finger protection.” he says. finger-vein authentication systems don't suffer from some of the problems of fingerprint-based solutions. says Takeshi Aoki. But. After enrolling with the system. he explains. For instance. according to Hitachi. users merely enter their employee ID number. vein-based systems can be used in manufacturing environments. who worked with Shinkin. Iadarola says. just as important was the practicality offered by the technology. About 80 percent of the financial institutions in Japan have adopted finger-vein biometrics for ATM access. according to Aoki. This outlines the finger's vein pattern. as the fingerprint reader does. To eliminate any chance of fraudulent activity. which account mostly for ATMs. the VeinID system flashes infrared light through the finger. He said eye. “We need only a finger. we don't have to manage keys and we don't have to remember who has keys. which is as unique as a fingerprint. Iadarola says. Ease of deployment Shinkin selected the VeinID product for several reasons. then . where dirty or greasy fingers can make it difficult to get accurate readings with fingerprints.
” he says. and a lot of security technologies. Aoki says. “For example. “However. he adds. the devil is in the details. “the devil is in the details. “I think everyone would agree that biometrics provide effective authentication technologies at a high level. have been on a smaller scale. Aoki says the bank doesn't plan to install vein readers at each workstation.” The most successful implementations.” .000 units at the desktop in Fortune 500 companies — the huge deployment has always been a challenge. A lot of companies throw hardware and software at a problem and hope it goes away. once we adjusted the sensitivity of the system.” says Ben Rothke. Shinkin has six of the devices. they are more willing to use them.” Aoki recalls.” That doesn't mean there weren't hurdles in the initial going. including one controlling access to Shinkin Central Bank's computer room. he points out. After about a half year using the VeinID product. Shinkin's employees are now getting used to biometric security systems. we've seen a lot of them in financial applications and in welfare offices. and there are challenges in making biometrics work.place their finger in the reader and it unlocks the door if the employee is authorized to enter that office. generally targeting special problems and issues.” The success stories have been in kiosk-based banking and retail point-of-sale. they have not had any matching problems. “But down at the practical level. “The biggest problem with biometrics. a senior security consultant with consulting firm BT INS. is that those deploying them don't really know what their problem is and what they want out of it.” BIOMETRICS: Fighting the devil When it comes to deploying biometrics technologies. “Because they understand what biometrics is. as opposed to rolling out 20. believing that user names and passwords are sufficient for security because of the company's already limited-access environment. PKI [public key infrastructure] in the late 1990s was a good example: A lot of PKI deployments failed because companies didn't know exactly what they wanted to do with it. “A few of the employees had trouble matching with the registered finger-vein and their actual finger at first.
Greatrex explains. — Jim Carr From the November 2007 Issue of SCMagazine | Share Ads by Google SB1386 Compliance Papers Improve your SB1386 compliance with SB138 whitepapers and articles www. she says. These companies don't want to spend a lot of money on biometrics solutions. she says. For example. they look to fingerprint-based solutions rather than other biometrics technologies. Moreover. As a result. people see fingerprint applications in day-to-day life. says Cindy Greatrex.AttackPrevention. Specifically. making them more acceptable than before. the vice president of partner development of Integralis. the owners and decision-makers in the SMB market are more comfortable bringing fingerprint-based biometrics into their businesses.Consulting firms that sell and install biometrics products are seeing more small. so they are an affordable choice for small businesses.com/SB1386 Close Forgot password? Top of Form Please put in your email: Send me my password! Bottom of Form Close message Login • This blog post . a systems integrator. fingerprint-based authentication systems are now readily available on many notebook PCs.and medium-sized businesses (SMBs) than large enterprises deploying biometrics systems.
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Top Radio Advertiser Product Category . Top Radio Brands Advertised .08-23-10 5.July 2010 6. Top 10 Viral Videos – August 2010 2.Home » Recession Increases Retail Shrink Threats Search MarketingCharts Top of Form Recession Increases Retail Shrink Threats » Bottom of Form Events: The ongoing economic recession has caused many retailers to both experience higher levels of shrink and make combating shrink a higher priority.08-23-10 4. 68% of retailers said the priority of shrink increased between 2007 and 2009. 44% of retailers said the economy caused shrink to rise in 2009. Top 10 Mobile Phone Websites . a recent study developed in partnership by Retail Most Popular Recent Systems Research and the Retail Industry Leaders Charts/Stories Association (RILA). Top Radio Advertisers Hardware / Home Improvement .June 2010 7. Top 10 Viral Videos – January 2010 8. Top 10 Viral Videos . Not surprisingly. and another 37% said it stayed about the same. Shrink Rises. 1. Attend Sitecore's October 5th These are two of the main findings of Loss Prevention 2010: Retailers Battling Shrink in Tough Times [pdf]. almost half of retailers said their shrink levels are better than the industry average of 1. and another 25% said it stayed about the same. with 7% saying shrink became a less critical priority. Only 20% said it fell.January 2010 Despite these percentages. Top Viral Ads of All Time 3.6% of sales. But Retailers Beat Average Loss According to the study. Forty-seven percent said their shrink . Managing The Digital Marketing Channel Mix webinar for insights & strategies.
Best-Selling Books of 2009 Major Media Categories • Television Print Radio Direct Interactive Outdoor Growth. from 32% to 45%. 9.January 2010 10. When asked to name their top three business challenges related to shrink. • • • • • – Article Topics • • • • • • • • • • • • • • • • • • Account Service Acquisitions/Biz Buzz Affiliate Marketing African American Agencies Account Service Acquisitions/Biz Buzz Affiliate Marketing African American Agencies Asia Pacific Automotive Behavioral Marketing Blogs Branding Business-toBusiness Buying Campaigns of Note Customers Grow as Problem In 2008. Top 10 Real Estate Websites . Concurrently. 80% of retailers rated employee theft of merchandise in stores as a top three cause of shrink. the percentage of retailers rating customer theft as a top three problem grew from 52% to 62% in the same time period. between 2008 and 2009. Organized Crime Increase Shrink Threat Retailers are finding growth and organized crime as two of their biggest shrink threats. organized crime’s rating as a top three shrink problem stayed virtually flat.levels are better. Interestingly. Another 49% said gross margin shortfalls are directly attributable to + shrink and 45% said organized crime rings have taken loss prevention to a level beyond what they’re used to coping with. they become a bigger target for thieves. When asked what sources of shrink have risen as a . and 22% said they are worse. This figure dropped substantially to 68% in 2009. 30% said they are about the same. rising from 30% to 31% during the year. It is worth noting that employee theft of cash also grew substantially. 61% of retailers said as they grow their company.
Research. Related topics: Retail. Other responses included employee theft of cash (19%) and employee theft of merchandise (16%).8 billion consumers lose to consumer-facing fraud each year. Organized gangs stealing merchandise came in a close second with 25% of retailers saying it has increased. 28% of retailers cited individual customer theft of merchandise. Traditional. • • • • • • • • • • • Lexis-Nexis Indicates Consumer-Facing Fraud is $100B Problem According to the 2009 LexisNexis True Cost of Fraud study.result of the economic downturn. • • • • • • • • • Canada Case Studies Creative Issues Defense Demographics Directories Don't Believe the Hype E-Commerce Elderly Email Entertainment Environmental/Gr een Europe Financial FSIs Gay & Lesbian Healthcare Hispanic Industry Events Integrated/CrossMedia/Convergen ce Latin America List Marketing Magazines Measurement/An alytics Media Department Men New Tech Newspapers Online Networks Opinion Packaged Goods Money Inhibits Loss Prevention Action Financial issues are taking a clear toll on retailer efforts to fight loss prevention. Share Jan 25-10 Related Stories • • • • • • • • • • • Retail IT Spending to Exceed $20B Retail Organized Crime Activity Dips . according to the study. Another 41% lack staff. and 53% said they can’t prove the ROI of shrink reduction. Eightysix percent of retailers said expense is an organizational inhibitor to reducing shrink. and 36% have perpetual inventory systems that are so inaccurate it’s hard to tell what they are losing. consumer-facing fraud (fraud which does not include insider or employee fraud) costs retailers $100 billion a year. the most popular response. This dwarfs the $11 billion financial institutions lose and $4.
Fraud Costs Retailers $100B Annually Online Ad Spend to Shrink for First Time since 2001 Sophos: 9. there is an increase of individual s committin g merchand ise theft more than ever. it could be that I am not that big business. 2010 at 10:25 pm • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Personalization Pitches/Wins/Loss es Planning PR Privacy Production Promotions Real Estate Regulatory Remnant Space Research Retail Sales/Repping Search Engine Marketing Search Engine Optimization Shenanigans/Hu mor/Parody Sign of Doom Signs of What's to Come Small Biz Spam/Spyware/In trusive Sponsorships Sports Syndication/RSS/ Atom Targeting Technologies Telecom Text Ads Trade Rags Trade Shows and Events Travel advertisement As a business owner. the same is true here. so is not a target of . James Says: March 27th. Well.500 New Infected Web Pages a Day in May One Response to “Recession Increases Retail Shrink Threats” 1.
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