How to Protect Your Retail Business from Internal and External Theft
How to Protect Your Retail Business from Internal and External Theft

How to Protect Your Retail Business from Internal and External Theft

Retail businesses deal with many security challenges. Retailers have to worry about burglary and shoplifting, as well as cybersecurity thefts and hacking. The threats are not just from thieves, but employees as well. This blog will discuss how to protect your retail business from internal and external threats.


Physical Security

According to the NASP (National Association of Shoplifting Prevention), more than $13 billion worth of goods are stolen from retailers each year (or approximately $35 million per day). Moreover, 1 in 11 people will commit the crime of shoplifting at some point in their lives, but only 10 million people have been caught shoplifting in the last five years.

An incredibly effective deterrent to shoplifting is having security guards on your premises. A camera surveillance system can catch theft in the act, but it won’t stop a thief from leaving with retail merchandise before police arrive. A security guard walking through the store can take a pro-active approach to stop theft before it starts. This not only deters outside threats but can also stop employees from even considering stealing from your business knowing a guard is always watching.

Limit Access to Assets

Consider limiting access to various company assets both physical and digital. If an employee doesn’t need access to something, don’t grant it. This is an efficient way of reducing your businesses vulnerability.

Cybersecurity

Install a firewall on your network

A proper firewall is the first line of defense when a hacker tries to access your payment terminal. Nowadays, a hacker can insert malware into your terminal and steal important data (personal information, credit card data, etc) from anywhere in the world.

Have a separate network for your payment terminal

Separating your payment terminal network from your general store network greatly decreases the likelihood of a successful cyber attack. Oftentimes, hackers get into your system through your employees. By hacking into an employee’s computer via an infected email, cyber criminals can often steal the access data for your network, thereby obtaining a free access pass to your network and payment terminal.

Change usernames and passwords every 90 days

First off, make sure you change default usernames and passwords on your network as quickly as possible. These are often known to cyber criminals and make your business extremely vulnerable to cyber attack if they remain unchanged.

Use a security software that tests for vulnerabilities

There are various software options that test your network and payment terminals for breach vulnerability. The first thing you need to do, is to check with your payment processor. Some offer free firewall and security testing as part of their package.

Security Deserves Your Full Attention

Even a brief lapse in security planning or execution can cost you hundreds or millions of dollars in revenue, brand equity, and consumer trust. Are you doing everything you can to prevent that?

Looking for elite security guards for your hotel, residence, business, or event? Call 305-418-9214 today to schedule Pro-Secur’s elite guard services.

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