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Risky Business : Crime costs retailers £3,863million

With crime in the UK costs the retail industry £3,863million* Loomis, a leading end-to-end cash management specialist, is urging retailers to be more vigilant with its cash security.

Figures show that retailers are losing £785million through a lack of security and loss prevention methods in place and with £39million lost each year through robberies and burglaries, Loomis is encouraging retailers to take action and think carefully about how they transport and store their takings.

By implementing the following advice from Loomis, retailers can help protect themselves from becoming a victim or crime or fraud.

  • With 29.4million forged pound coins in the system** - make sure all staff are trained to recognise fraudulent notes and coins
  • Make sure you have a professional risk assessment conducted on your premises to highlight internal and external risk factors
  • Ensure all cash takings are stored and locked in a safe
  • Choose a secure cash management supplier that will provide cash insurance, giving you peace of mind
  • Install fraudulent money detectors such as counterfeit detector pens and UV note detectors

“The global economic crisis appears to be driving crime with figures for opportunistic crime on the increase, and in turn, crime is fuelling loss, giving retailers no choice but to be on their guard,” commented Tony Benson, UK Group Risk Director. “By implementing these easy steps, retailers can reduce their chances of being a victim of crime in the UK. Loomis is committed to providing specialist solutions for retailers that reduce the risks associated with cash handling, and our cash management solutions tackle everything from detecting cash forgeries to deterring opportunistic crimes.”

*Source: The Centre for Retail Research
**Source: www.royalmint.com

Notes to editors
Loomis is a leading end to end cash management solutions provider. Loomis provides innovative, efficient and highly secure cash collection, delivery and cash processing services using the most advanced security and technological solutions available.

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