Loss prevention is a form of investigation into larceny or the theft of items of value such as money, physical goods or services. The purpose of loss prevention programs is, at its most basic level, is to “prevent losses”. This is accomplished by understanding where problems, theft, or “leakage” occurs and then implementing policies, procedures and controls to prevent further loss. The primary focus of loss prevention investigations usually includes investigating losses related to shoplifting, package pilferage, embezzlement, credit fraud, and check fraud. Loss prevention is used to reduce the amount of losses related to retail trade.
In most situations, a company designs, implements and executes their own loss prevention strategy. Company executives are usually responsible for developing the overall strategy and management at all levels is responsible for the day to day execution. In some cases, outside consultants who specialize in loss prevention are hired to help develop the strategy and implementation plan.
In situations where losses occur, the company conducts its own internal investigation. This investigation is critical to gather evidence for proof of loss, which may be necessary for insurance claims. In more serious situations, law enforcement may be called in to investigate further and possibly to make an arrest. In addition, many private detectives offer investigation services into such losses to their clients.
Following is collection of resources for those who are interested in learning more:
LPJobs.com – This website is an excellent resource for those who are interested in starting a career or finding a new job in the LP field. LPjobs.com is the leading retail loss prevention employment site that offers job seekers comprehensive resources for finding a job online.
Loss Prevention Books – A collection of books that will help you learn the appropriate theories, techniques and equipment used to solve crimes of theft, embezzlement and shoplifting. Build a professional library of reference books that will help guide you through the intricacies of investigations.
Loss Prevention Magazine – A view into the world of preventing retail theft and stealing. Included in this site are archives of articles from the only magazine dedicated to the LP industry.
Retail Loss Prevention Exchange – A good source for information on retail loss prevention.