GLENDORA, Calif. (March 26, 2012) – Organized retail crime affects almost every retailer, with 90% having been a victim of organized retail crime in 2011, according to the National Retail Federation’s Organized Retail Crime survey. Losses total an estimated $15 to $30 billion per year. Nearly half of retailers are allocating additional resources toward fighting organized retail crime. Some retailers spend more than $1 million on personnel annually to deal with it, while others invest in technologies to curb it.
FraudFighter’s AsseTAG indelibly marks inventory to discourage theft and positively identify items that belong to a particular store after a theft. AsseTAG marks products with either visible (“overt”) or invisible (“covert”) identifiers that can be readily recognized by store investigators.
Unique, customized “stamps,” such as store numbers and company initials imprinted on the inventory, are designed to meet specific customer needs via a simple process. An employee uses a large “marker pen” barrel that contains the FraudFighter AsseTag ink to stamp the product. The process is faster than peeling a label off a sheet and affixing it to the product.
The visible marking, which cannot be removed without damaging the packaging, makes the resale value considerably lower, thus deterring theft. Invisible markings let retailers examine and “identify” goods that are recovered and also trace the patterns and locations of the theft.
Visible marking inks come in a variety of colors and are easy to identify. Invisible markings require activation by a non-visible light source, such as ultraviolet, infrared or a combination of the two.
AsseTAG saves time and money. Marking products using the AsseTAG requires only 1.3 seconds, as opposed to 5.6 seconds for other labeling products. The AsseTAG system on a “per mark” basis is about 50 percent less expensive than other products on the market. It is likely that as much as $1000 per year, per store, will be recovered using the “covert” marking system.
UVeritech, established in 2000, is a leader in multi-layer fraud prevention and counterfeit money detection solutions, including UV scanners, automated currency detection, image capture, verification and authentication. The company has developed fraud prevention solutions in the financial, government, hospitality, rental and retail industries. Fraud Fighter™, a division of UVeritech, helps companies prevent theft with state–of–the–art solutions that detect and deter crime.
To receive more information on the company or products, please contact robert@uveritech.com or call (800) 883-8822.
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