White Paper
ORC's Impact
Organized retail crime (ORC) has had a significant impact on retailers across the U.S., resulting in extra security measures and store closures. ORC costs businesses an average of $700,000 per $1 billion in sales, according to a 2020 study by the National Retail Federation.
OpenEye, the cloud video platform company, offers several solutions to help prevent or provide evidence for such criminal activity, including:
- Cloud-based video surveillance
- Point-of-sale integration
OpenEye provides a cloud video platform that empowers users to improve operational efficiency, identify actionable insights, and achieve great return on investment. It offers the benefits of the cloud with the performance and reliability of local recording. Intelligent search options help loss prevention or security staff locate incidents faster.
ORC Defined
ORC involves two or more people engaged in illegally obtaining merchandise in substantial quantities through theft and fraud for the purpose of turning stolen goods into financial gain, as defined by several sources. These activities are typically well coordinated and can operate on a local or even international scale.
Types of crimes can include supply chain theft, fraudulent returns, cyber frauds, counterfeiting, identity theft, and more, Loss Prevention Media reported.
In recent years, more of these stolen goods are being sold online...
