Retail crime on the rise

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The Retail Industry Leaders Assn. says crimes against retailers are rising as the economy gets worse. The trade group checked with 52 of the largest and fastest growing retailers in the U.S., including grocery, drugstore, mass merchant, specialty apparel, electronics and appliances and other chains.

Key findings include:

• 84% report an increase in theft/amateur shoplifting.
• 76% report an increase in financial fraud.
• 80% report increases in organized retail crime.

Retailers report that they are working to reverse the trend by adding more resources to preventing crime and loss in their stores. U.S. retailers spent $11.8 billion last year on loss prevention efforts.

The trade group says organized crime rings are of particular concern. These rings steal and stockpile large quantities of merchandise and then unload it through flea markets, pawnshops and Internet auction sites, such as Ebay.

For more information, check out the retailer survey.

-- Jerry Hirsch