Retail Loss Detection and Prevention - Policies and Procedures

This webinar training will examine the guiding principles of loss prevention. It will provide an overview of industry findings regarding losses (known as shrink). The training will also identify the most common loss and fraud hazards of retail entities.

Why Should You Attend:

The Association of Certified Fraud Examiners reveals that as many as 33 percent of small business failures are a result of uncontrolled losses including employee theft. Large retail firms are aware of the importance of incorporating a viable loss prevention program in their business operation philosophy. However, many small to medium size retail firm owners do not understand the importance or concept of loss prevention and are vulnerable to failure due to uncontrolled losses.

The webinar will discuss how to create a loss prevention program that includes:

• Developing a loss prevention awareness campaign
• The success of a tip line
• Hiring and training the right person
• Pre-employment and promotion screening
• Ensuring loss prevention policies and procedures are adequate
• Monitoring and auditing loss prevention practices to ensure they are in compliance with procedures
• Understanding why practices deviate from established procedures that lead to losses
• Determining a baseline of normal activity
• Reacting to exceptions to baseline activity

Areas Covered in the Webinar:

• Establishing a zero tolerance for loss philosophy
• Creating a loss prevention program
• Discussing the most common retail loss hazards
• Examining why employees steal from their employer
• Establishing policy and procedures to prevent and/or early detect losses
• Monitoring practices to ensure they comply with procedures
• Reacting to a loss or theft indication
• Conducting a shrink investigation when the sources of losses are unknown

Who Will Benefit:

• Business Owners
• Controllers
• Management
• Investigators and Fraud Examiners
• External and Internal Auditors