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International News

Shoplifters Cost $1b as Staff Theft Soars

May 20, 2013 posted by Steve Brownstein

The Retailers Association of New Zealand reports that retailers lose as much as $1 billion annually to shoplifting by customers and employees.

Association members say the continued economic upheaval is likely contributing to these record losses.

And yet, according to Retail Crime Prevention Group spokesman Barry Hellberg, a great deal of retail theft goes unreported or unnoticed.

Security consultants agree, also pointing out that almost half of the thefts are carried out by staff.

Stores most often targeted include gas stations, certain department stores, and supermarkets.

Common items depend on the business, but they include meat, cheese, beauty products, and power tools.

Businesses have tried to combat these thefts with security cameras and electronic monitors, but experts say that these tools are ineffective unless people are actively monitoring them.