In the USA, 19 billion euros are lost in Retail every year.
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Fighting fraud > Retail fraud
Retail fraud is a problem common to small private stores, and big international corporations. According to the FBI, every year 19 billion euros are lost in the USA due to retail fraud.
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Fraud, commited by store associates
According to Retail Info Systems* approximately 44.5 percent of retail losses are attributed to store associates*. Such irregularities are much more difficult to discover than regular thieves and fraudsters. In 2008, a store reported to the police that an entire stock of handbags had been stolen from its department store. Shortly after the incident was reported, a store associate discovered the same type of purses that looked familiar in an Internet store and noted he saw a the company's tag on a bag offered online.
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Fraud management systems can help retailers fight Retail fraud. These will help in data and transaction analysis, which will provide an overview of the situation both at store level,a s well as at the level of employees and associates.
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