Congress recognizes seriousness of organized retail crime, NRF
26 Oct '07
3 min read
The National Retail Federation said a congressional hearing being held shows the seriousness of organized retail theft, a growing problem that costs retailers and consumers as much as $30 billion a year.
“This hearing shows that Congress recognizes the seriousness of organized retail crime and is ready to do something about it,” NRF Vice President for Loss Prevention Joseph LaRocca said.
“Lawmakers are hearing firsthand from merchants the magnitude of these crimes and how they are driving up costs for consumers and posing a health and safety risk for the public.
We hope that discussion will be followed soon by the introduction and passage of legislation to put those who commit organized retail crime behind bars.”
The House Judiciary Committee's Subcommittee on Crime, Terrorism and Homeland Security is scheduled to address “Organized Retail Theft Prevention: Fostering a Comprehensive Public-Private Response” at 10 a.m.
The hearing comes as Congress is preparing for introduction of new federal legislation to crack down on organized retail crime. Scheduled witnesses include representatives of retailers, supermarkets, on-line auction sites and law enforcement.
Organized retail crime amounts to between $15 billion and $30 billion annually, according to the FBI. Crime rings typically target consumer products that are in high demand and easy to steal, ranging from razor blades to consumer electronics.
Once stolen, thegoods are resold at pawn shops, flea markets, swap meets and Internet auction sites. Organized retail crime ultimately drives up prices for consumers, and can pose a health and safety threat when thieves falsely extend expiration dates or repackage and re-label items such as infant formula or medications.
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