The State of Loss Prevention and Asset Protection

Rausch asserts that when people hear the term loss prevention, they usually think about limiting shrinkage and stopping theft. Those are definitely the headliners, acknowledges Alan Fagergren, Director of Loss Prevention at Prime Communications, AT&T's largest authorized retailer. But retailers incur loss in a lot of different ways, especially now with COVID. Between efficient payroll processes, operational mistakes, employee safety, and discounting, loss prevention is involved in a lot of different buckets. But just like about everything else in the world, the loss prevention/asset protection space has been hugely affected by the pandemic and the traditional threat landscape for security professionals in this area has evolved over the past year and half. Fagergren says there has also been an increase in violent retail and white-collar crime and his team has seen more identity theft attempts than ever before.