loss protection strategies

Loss Prevention Strategies for Effective Collaboration

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Frank Costa, President Nexgen Protection Services – 

 

The most effective loss protection strategies are those that engage every level and department within an organization.

The essence of this collaborative approach is to move beyond the traditional confines of asset protection. It’s about breaking down the silos and fostering a culture where asset protection is seen as a shared responsibility.

To be effective, asset protection leaders must ensure they are seen as valuable partners rather than roadblocks. This involves actively seeking ways to support other departments’ goals and finding solutions that benefit the entire organization. When others see you as a collaborator rather than an obstacle, they are more likely to include you in critical meetings, ideation sessions, and decision-making processes.

 

SOURCE: 

Shugan, D. Collaborative Approaches to Asset Protection: Engaging All Stakeholders. Loss Prevention Magazine, 08/01/2024
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Advanced AI Technology Enables Security Real-Time Monitoring to Mitigate Crime

Generative AI Technology Enables Security Real-Time Monitoring to Mitigate Crime

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Frank Costa, President Nexgen Protection Services – 

Many organizations are investing in generative AI solution, Incident + ORC Intelligence, that automatically links incidents of theft, fraud, and abuse, enabling the seamless creation of comprehensive cases to help dismantle Organized Retail Crime (ORC) syndicates.

The technology enables real-time searches across millions of incidents and provides investigators with sophisticated tools to process, summarize, and analyze related criminal activities.

This solution is specifically designed to identify connections between incidents, using key details such as suspects, narratives, vehicles, and other critical case information. This targeted approach significantly enhances the investigative process, helping investigators quickly pinpoint related cases.

 

SOURCE: 

Appriss Retail introduces AI and shared investigative reporting to fight ORC. Security InfoWatch, 09/06/2024.
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Remote Loss Prevention Monitoring Enables Businesses to Secure Operations from Anywhere

Remote Loss Prevention Monitoring Enables Businesses to Secure Operations from Anywhere

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Frank Costa, President Nexgen Protection Services – 

In-person loss prevention and security audit for retail locations isn’t going away any time soon, and shouldn’t. Sometimes you just need to visit a place, if only to show the frontline workers that you genuinely care and are serious about theft and loss, and nothing can replace walking through a retail space with the on-site leader. 

Remote video monitoring allows businesses to conduct loss prevention audits from anywhere. This has a couple major benefits over traditional loss prevention audits:

  • It’s cheaper because you don’t need to travel to a location to conduct the audit. .
  • It’s faster, so you can audit more stores in a day and increase the frequency of your audits

Today, asset protection professionals are being asked to do more with less these days. Remote loss prevention and security audits allow field workers and leaders to do just that. 

 

SOURCE: 

Langley, C. Loss Prevention And Security Audits In Retail. Security Informed, September 2024.
#protectionservices #securitystandards #publicsaftey  #mobilesecurity #securitythreats

 

Physical Security Provides a Secure, Stable and Healthy Workplace

Physical Security Provides a Secure, Stable and Healthy Workplace

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Frank Costa, President Nexgen Protection Services – 

 

The range, value, and tampering sensitivity of merchandise passing through e-commerce portals is vast, throwing up new challenges for security details.  Protection against theft, against threats to staff, and against tampering, sabotage and the reputational damage resulting are the top priorities.

Physical security serves as a shield for such workers against unauthorized access while protecting against theft, vandalism, and violence.

In workplaces, educational facilities and other public spaces, physical security is the first line of defense. It not only prevents unauthorized entry but also creates a sense of safety and calmness. Providing a secure, stable and healthy workplace is an asset to retention and productivity.

 

SOURCE: 

Fisher, M. Distribution Facilities Ramp Up Safety Measures. The Urban Developer, 09/222024
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Retailers-Must-Implement-Ironclad-Loss-Prevention-Strategies

Retailers Must Implement Ironclad Loss Prevention Strategies

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Frank Costa, President Nexgen Protection Services – 

One of the biggest threats to retail profits is “shrink,” or preventable losses due to theft or human error. Retail shrink accounts for billions of dollars per year in lost revenue, so it’s in retailers’ best interests to have a comprehensive set of standards designed to avoid these losses. 

The rise of retail organized crime, cyberattacks, and new methods of theft have made reducing shrink harder than ever for retailers. In order to be prepared for these modern threats, retail store owners and managers must have ironclad loss prevention strategies in place, as well as the tools to enforce them.

SOURCE: 

Shein, M. Reassessing the role of loss prevention, Security Magazine, 04/04/2024.
#protectionservices #securitystandards #publicsaftey  #mobilesecurity #securitythreats


Security Guards Employ Body Cameras for Theft Prevention

Security Guards Employ Body Cameras for Theft Prevention

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Frank Costa, President Nexgen Protection Services – 

Body cameras are just the latest in a slew of security measures retailers have taken, such as locking up products behind glass cases and removing self-checkout stations. 

When people know that their actions are being recorded they tend to behave differently. The advertisement of body worn cameras in use can deter members of the public from behaving antisocially, abusively or aggressively.

Retailers are also working more closely with law enforcement and devoting more internal resources to investigating theft.

 

SOURCE: 

Store security guards employ body cameras for theft prevention, KTV FOX 2, Jun 6, 2024.
#protectionservices #securitystandards #publicsaftey  #mobilesecurity #securitythreats



Video-Surveillance-is-Critical-for-Safety-and-Security

Video Surveillance is Critical for Safety and Security

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Frank Costa, President Nexgen Protection Services – 

 

Video surveillance plays a major safety and security role at all types of facilities, and the technology has come a long way over the years. Cameras with powerful processors will be able to do more edge processing of video data than ever before. 

With technology changing so quickly, it’s more important than ever to educate the industry about how these exciting technologies can be used to protect assets.

 

SOURCE:  2024 Trends in Video Surveillance, Security Today. 2024.
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honeypot can give you equally good information about internal threats and show vulnerabilities in such areas as permissions that allow insiders to exploit the system.

Honeypot Techniques Expose Internal and External Threats

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Frank Costa, President Nexgen Protection Services – 

One honeypot definition comes from the world of espionage, where Mata Hari-style spies who use a romantic relationship as a way to steal secrets are described as setting a ‘honey trap’ or ‘honeypot’. Often, an enemy spy is compromised by a honey trap and then forced to hand over everything he/she knows.

In computer security terms, a cyber honeypot works in a similar way, baiting a trap for hackers. It’s a sacrificial computer system that’s intended to attract cyberattacks, like a decoy. It mimics a target for hackers, and uses their intrusion attempts to gain information about cybercriminals and the way they are operating or to distract them from other targets.

Firewalls also won’t help against an internal threat – an employee who wants to steal files before quitting their job, for instance. A honeypot can give you equally good information about internal threats and show vulnerabilities in such areas as permissions that allow insiders to exploit the system.

Overall, the benefits of using honeypots far outweigh the risks. Hackers are often thought of as a distant, invisible threat – but using honeypots, you can see exactly what they’re doing, in real time, and use that information to stop them getting what they want.

 

SOURCE: 

Grant, D., New honeypot techniques for addressing targeted attacks, Security Today. 07.25.2024. 

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Loss prevention specialists are leveraging technology to mitigate losses.

Loss prevention specialists are leveraging technology to mitigate losses.

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Frank Costa, President Nexgen Protection Services – 

Organized retail crime (ORC) has become widespread. Artificial Intelligence, AI-based cameras with advanced analytics can extend the reach of loss prevention specialists by accurately alerting staff to certain behaviors such as loitering of people and vehicles. 

 

SOURCE: 

Foley, S., Addressing Unique Challenges, Security Today. 07.21.2023. 

#protectionservices #securitystandards #publicsaftey  #mobilesecurity #securitythreats

 

Retailers have become increasingly vulnerable to riots and looting.

Retailers have become increasingly vulnerable to riots and looting.

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Frank Costa, President Nexgen Protection Services – 

Businesses must strike a balance between providing a seamless shopping experience and implementing robust security measures.

Modern surveillance systems incorporate high-resolution cameras that provide clear, detailed footage of your store. AI-powered surveillance can identify suspicious activity, track customer movements, and even analyze customer behavior to optimize store layouts and product placements. 

Staying updated with these technologies is not just a matter of protecting your assets; it’s about providing a secure, enjoyable shopping experience for your customers.

 

SOURCE: 

Wolfe, C., Storefront Security and Emergency Response 2024, 07.09.2024.

#protectionservices #securitystandards #publicsaftey  #mobilesecurity #securitythreats