Employee theft costs retail sector more than shoplifting — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Employee theft costs retail sector more than shoplifting

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Employees swipe more from retailers than shoplifters do, according to a new study. The annual Global Retail Theft Barometer reports that dishonest employees cost retailers $18 billion in revenue last year, more than the $15.7 billion taken by light-fingered shoppers.

The survey is conducted annually by Checkpoint Systems, a loss-prevention consulting firm.

How do employees most commonly help themselves to their employers’ money? By canceling legitimate cash-register transactions and issuing themselves “refunds.”

The costs of such retail crime get passed along to consumers to the tune of $403 per household per year.

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