ABSTRACT
Property offenses have a monumental impact on both personal and business environments. The impact of economic crime and its related costs are difficult to fully define and appreciate because the criminal conduct relating to property has many definitions and codifications. 1 “Shoplifting is a persistent problem for many retailers. It is a major source of ‘shrinkage’, the umbrella term used to denote preventable losses attributed to theft, fraud, error, damage or wastage.” 2 The consensus as to what constitutes shrinkage is not fully uniform with varying conclusions about value, book or actual value, inventory cost—all impacting eventual computations. 3 According to estimates from the Global Retail Theft Barometer, 4 the cost of retail crime globally exceeded $214 billion in 2014–15. 5
