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Examples Of Organized Retail Crime

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been caught shoplifting. About 75 percent of shoplifters are adults, of which more than half shoplifted when they were teens. Organized retail crime (ORC) - Organized retail crime refers to groups, gangs, professional shoplifters, cargo thefts, retail crime rings that illegally steal retail merchandise with the intent to resell, support illicit activities, buy drugs, buy weapons etc. Per the NRF, the 2015 Organized Retail Crime Survey reveals that 97% of retails have been victim of OCR in the last year. In those that took part in the survey, the average annual financial loss was $453,940 per $1 billion in yearly sales. Two-thirds of the surveyed group reported ORC loss from store credit and gift cards. A stolen item is returned for …show more content…

Bribery or extortion schemes happen when an employee demands money of gifts in exchange for doing business with their company. For example, an employee in charge of hiring trucking companies to haul their products will overlook other vendors, even if they have lower rates, giving the business to someone that is paying them off. Check tampering schemes is when an employee steals money from a company by altering a check, forging a check, intercepting funds, etc. Employees who do this, for the most part, are the ones that have access to the companies checks and banking information like accountants or someone in the accounts payable department. Tampered checks can be made payable to the offender, a fictitious company, a vendor, or even made out to cash. The automatic check-signing stamp has made this process even easier. Charitable organizations, construction companies, health care and insurance companies are high on the list for this type of fraud. Billing schemes can involve an employee setting up a fictitious vendor which bills the company, the employee signs off on the invoice and the company makes payment. It can also be where an employee is working with a vendor, has fraudulent payments made to them, and they in turn reimburse the employee. An employee could also have payments sent to 0a vendor who is unknowingly aware of the employee’s intent, the vendor returns the checks because the payment is not due to them, and the employee intercepts the check when it is returned and deposits it (Bush,

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