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.

Comments
Also by This Author
What's Hot
Loyalty & Rewards
Payment History Firm Pulls In $70 Million Investments
Mobile
Bitcoin Platforms Being Reclassified As Money Transmitters
Apple Pay Tracker
Wireless Carriers Could Be Left Out Of NFC Payments
Apple Pay Tracker
What CurrentC Didn’t Say
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
WEX Comes Off Q3 With Strong Results
International
Transforming Payments from Cost Centers to Revenue Drivers
B2B Payments
U.S. Bank Tries To Streamline B2B Electronic Payments
CA Technologies
Online Transacting Is Safer Than A Card Present World
View All Articles ››