Whether it’s a case of deliberate fraud or accidental error – human or technical – any loss incurred at the till has the same negative impact on your bottom line and is equally hard to spot amongst all the genuine activity.
Instances of till fraud
The detection and prevention of till fraud poses a significant challenge across all retail sectors, with certain sales transactions presenting a greater risk. Some losses caused by cashiers can be put down to human error, inadequate till training or failure to follow standard business processes, but the majority are the result of intentional till fraud. Typical examples include:
The need to detect as well as prevent
Various control measures can be put in place to mitigate the risk of till fraud, but an element of loss will still exist. This is largely because there will always be certain employees who require unrestricted access to the entire functionality of the till in order to carry out their job. These loss-generating transactions will be virtually invisible amongst the millions of ‘real’ ones made every day. However, the development of loss prevention PoS data mining software means that it is now possible to analyse retail transaction data that is already captured to help pinpoint fraud and till loss caused by cashiers and/or internal process failures. VISION Loss Prevention is a sophisticated forensic tool that aids the detection and prevention of till fraud and other types of retail loss.