Using Data to Identify Extremely Subtle Internal Retail Fraud
July 15th, 2020, 1:00pm EST
Few things keep LP professionals up at night quite like internal retail fraud. Employees have insider knowledge of security procedures (and by extension, how to bypass them), as well as access to risky register functions and unprotected merchandise. This makes it remarkably challenging to identify and resolve cases of internal fraud.
That’s why numerous retailers are equipping their LP teams with data-analysis solutions like prescriptive analytics. They know that data cannot be manipulated, and that these solutions can identify even the subtlest data behaviors that indicate fraud, from a slight decrease in scanning rate during high-risk hours, to an unexpected increase in loyalty rewards. Join retail veterans J.R. Werner and Scott Pethuyne for this insightful discussion on several types of hard-to-catch retail fraud and how data can unveil them.