Kevin Ian Schmidt

Category Archives: Loss Prevention

5 Myths about Employee Theft

The statistics of internal theft are staggering:  The latest National Retail Security Survey states that 33.2% of losses to retailers are attributed to theft by employees. The Association of Certified Fraud Examiners (ACFE) reports that 5% of revenues of a typical organization are stolen by company workers. The average internal fraud scheme goes undetected for […]

Guidelines for Investigation Interviews

Definition Employee Investigation Interviews are set up to review claims made by employees regarding discrimination, harassment, violence, or other prohibited behaviors in the workplace.   The Investigation Interview Process When you’re conducting employee investigation interviews, the interview process should be carefully planned, followed, and documented to help mitigate exposure to litigation. The sequence of interviews […]

Inventory Shrink can be a Hidden Cost

What is inventory shrink? Inventory shrink is a reduction in physical inventory caused primarily by shoplifting, employee theft, administrative/operational errors, and vendor fraud. Using the inventory shrinkage formula, you can find out your inventory shrinkage rate.   Here are the steps you would need to take: Find out the book value of your inventory. This […]

Outsourcing Loss Prevention: is it worth it?

Outsourcing is not a new concept but one that is growing by leaps and bounds across all corporate environments. Originally, only large corporations engaged in the outsourcing of business units and tasks. Now the concept is invading the mid-sized market as a viable business strategy. According to the Outsourcing Institute, in 1996 outsourcing was viewed […]

External Theft: Shoplifting

External theft is the stealing of merchandise, cash, goods, or fraud resulting in loss by shoplifters.  According to the Hayes International Theft Survey, there were 1,014,817 shoplifting apprehensions resulting in a recovery of over $111 Million from the participating 25 retailers in 2009.  This number is actually an increase of 1.0% from last year. There […]

Using Social Media in Investigations

Is your employee vacationing somewhere sunny while on sick leave? Or is she, perhaps, enjoying a jog through the park while off on disability with a broken leg? You found out about these events because of posts made on social media sites, but can you use the information as evidence in an investigation? Social Media Investigations Findings […]