Beware of These 6 Top Security Threats at Retail Businesses

Top Security Threats at Retail BusinessesThere is no shortage of security threats for retail businesses. As if running a retail store wasn’t challenging enough, there is a daily threat of various security risks that will take their toll on even the most successful retail businesses.

Nobody is free from these threats – businesses small and large face constant security threats that they must be prepared for.
It’s why the retail industry relies so heavily on various security processes and equipment, which can help to minimize the risks they face. However, knowing about the threats is also important as it gives you a better chance of preventing them.

It’s one of the most common form of thefts that retail businesses face, with shoplifters stealing billions of dollars’ worth of products every year. While security processes like CCTV, creating few blind spots, training employees to spot these threats can minimize the risks, the threat of shoplifters is an ever-present one in retail.

Employee Theft
A lot of theft in retail is internal, with employees taking advantage of their inside knowledge to exploit security weaknesses and steal from their employer. This could be anything from stock to cash from the register, which is why its important to keep detailed inventory and bookkeeping so any theft is noticed quickly.

Security cameras and controlled access are another few methods that can help reduce these risks, allowing employers to see what their employees are doing and who is entering and leaving stock rooms etc.

After hours break-ins are less common thanks to strong security measures in many retail businesses, although smaller retailers often face increased threats of after hour break ins due to less robust security systems.

Break-ins can be significantly damaging, espiecally when hold high volume and high value inventory, so always take appropriate measures such as increased CCTV, reinforced doors and locks, gates and fences around the premises etc.

Many criminals target retail businesses with fake lawsuits, claiming on-site injuries in the hopes of suing for compensation. Cameras mostly negate these risks, although not every criminal is aware of security cameras so they may attempt a fake lawsuit anyway.

Holding retail businesses at gunpoint is far less prominent thanks to increased presence of cameras that make it difficult to get away with it, but the sad truth is the threat of armed robbery remains for many businesses.

From fake cash bills and coupons to fraudulent refunds, there are various scams that savvy criminals use to steal from unwitting retail businesses. These scams typically occur during point of sale processing, so educating employees on common scams and providing equipment such as counterfeit note detectors should help minimize the threats.

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