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Billions of dollars are stolen from business owners every year. The problem is becoming more pervasive as the economy slows making lost revenue even more critical to business owners. Theft has increased nearly 15% every year and only 2.7% of total theft is every recovered leaving business at a loss on how to control the tide. The National Retail Federation (NRF) and the Retail Industry Leaders Association (RILA) have teamed up with the FBI to offer the national retail organized antitheft database. The system is called the Law Enforcement Retail Partnership Network (LERPnet) and is a voluntary program. Companies who join the network add their information and theft to the network that allow other businesses to search through records. Videos can be uploaded that help identify criminals. Thus far 32 retailers representing around 46,000 stores have already joined the database. The goal is to catch organized crime rings and recover more of the lost merchandize. Stores are excited about the possibility but there appears to be some dissention among consumers. Many are afraid that the government is becoming too powerful with homeland security, the theft database, and the national terrorist list. The ideal appears to be a novel one with great promise. Corruption causes the cost of business to increase within the country which in turn reduces profit. The lack of profit is one of the major reasons why businesses close their doors and people lose jobs. Furthermore, foreign and domestic investors will be less likely to invest if profit margins are reduced from theft. Murad Ali is a three time published author, a Ph.D. candidate, and a human resource manager. http://www.thenewbusinessworld.blogspot.com
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Business, theft, database, fbi,
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