Colorado Leading Fight Against Organized Retail Crime

What's Next In Payments®
4:56 PM EDT June 5th, 2012

A new Colorado law establishes unique protocols for the prevention and addressing of what the state is referring to as organized retail crime.

The National Retail Federation offers a definition of the new term at its blog:

“Organized Retail Crime (ORC) is defined as the theft or fraud activity conducted with the intent to convert illegally obtained merchandise, cargo, cash, or cash equivalent into financial gain (not for personal use), typically through their online or offline resale. ORC typically involves a criminal enterprise that organizes large-scale thefts from a number of retail stores and employs a fencing operation to sell the illegally-obtained goods for financial gain.”

An NRF survey estimates that 96 percent of retailers fell victim to ORC in 2011.

Read the full story here.

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