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Texas codified specific penalties for organized retail theft back in 2007 when the crime cost businesses an estimated $2.5 billion — but since then, the crime has only become more popular.
Shoplifting (also known as shop theft, shop fraud, retail theft, or retail fraud) is the theft of goods from a retail establishment during business hours. The terms shoplifting and shoplifter are not usually defined in law, and generally fall under larceny .
However, the National Retail Federation (NRF) said that same month that the effect of theft on retailers’ bottom lines was about the same as in previous years, with total retail shrinkage at $112 billion in 2022 (1.55% of sales), up from $93.9 billion (1.44% of sales) in 2021. External theft, including organized retail crime, represented 36% ...
A flash rob, also known as a multiple offender crime or flash mob robbery, is an organized form of theft in which a group of participants enter a retail shop or convenience store en masse and steal goods and other items.
Retailers suffered more than $112 billion in losses due to shrink last year alone, according to the National Retail Federation, putting the bust at just 0.00125% of the year's total.
The National Retail Federation estimates that retailers lost $40.5 billion to external theft, including organized retail crime, in 2022. That represented about 36% of total inventory losses ...
Return fraud is the act of defrauding a retail store by means of the return process.There are various ways in which this crime is committed. For example, the offender may return stolen merchandise to secure cash, steal receipts or receipt tape to enable a falsified return, or use somebody else's receipt to try to return an item picked up from a store shelf.
According to the National Retail Federation's (NRF) National Retail Security Survey, retail shrink — the loss of items to retail theft, organized crime, damage, vendor fraud, and other factors ...