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.

Also by This Author
What's Hot
Square Launches Register App Platform
Etsy Debuts mPOS Solution
Merchant Innovation
Ron Johnson’s New Company To Focus On Shopper Decisions
B2B Payments
WEX and Sinclair Oil Strike Long Term Contract
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
Tungsten Spent $6.5 Million for DocuSphere
Company Spotlight
Inside the Future of Commerce, Post Apple Pay
Alternative Financial Services
Death Threats, Fraudsters and Lawsuits
How to Overcome the 10 Most Common Cyber Threats
View All Articles ››