Retail Fraud: Understanding and mitigating fraud risks in the retail, leisure, and food & beverage industries.

12 Apr 2024 5:28 PM | Anonymous member (Administrator)

Fraud within the retail, leisure, and food and beverage industries can undermine customer and consumer confidence and, in more serious cases, negatively impact consumers’ health and wellbeing. Without appropriate mitigation measures, the impact of fraud incidents can result in both great financial cost and operational disruption to businesses.

Fraud is the most common type of crime in England and Wales. A National Crime Agency survey revealed, in 2022, 3.7 million recorded incidents of fraud amounted to £2.46 billion in losses for businesses and individuals. It is crucial that all organisations operating in the retail, leisure, and food and beverage sectors understand the current fraud landscape, the potential risks fraud poses, and best practices for fraud detection and prevention.

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