6 Ways to Protect Your Physical Retail Store from Theft and Common Scams

June 4, 2024
Reading Time
3 minute read

A thriving brick-and-mortar retail store is one that makes an effort to avoid falling victim to theft and common scams. Implementing security measures and practices that prevent these crimes from taking place in your store will help your customers feel safe and encourage them to shop with confidence. On top of letting your customers get lost in the experience of shopping, keeping your store free from criminal entities and activities protects your assets and keeps your employees safe. Here’s a list of what you can do to reduce the risk of theft and common scams from taking place in your establishment.

1. Train and Screen Employees

One of the first lines of defense against scams and theft is well-trained and trustworthy employees. Conducting background checks and thorough screening processes for all prospective employees can help minimize the risk of insider theft and fraud. Additionally, implementing comprehensive employee training programs on security protocols enables your retail store to ensure that staff members are equipped with the knowledge and skills to recognize and respond effectively to security threats.

2. Use Physical Security Measures

Visible security measures, such as surveillance cameras, access control systems, and heightened staff presence, are essential for deterring potential thieves and monitoring customer activity. Installing cameras throughout the store and prominently displaying signage indicating video surveillance can serve as a deterrent to would-be criminals. Similarly, maintaining a visible presence of staff members on the sales floor can help prevent theft and provide a sense of security for customers. You can also implement access control measures to restrict entry to sensitive areas.

3. Adopt Inventory Control and Cash Handling Procedures

Comprehensive inventory control procedures, including regular audits and the use of security tags, enable you to track merchandise from delivery to sale and detect discrepancies or theft more effectively. Similarly, implementing cash handling procedures, such as regular cash drops and secure storage, can help prevent theft and ensure the integrity of financial transactions. These help limit the risk of financial losses and maintain the trust of your customers.

4. Maximize the Security Features of the POS Terminal

Your choice of in-store payment terminal is central to ensuring the safety of your retail store. It’s a must for this device or machine to feature robust security measures that can deter or detect scams and instances of theft. Maya Terminal and Maya Terminal Lite, which are designed to process payments made using debit and credit cards, e-wallets, and QR Ph codes, make use of world-class security features that are afforded to all Maya Business payment solutions.

These payment terminal machines are Payment Card Industry Data Security Standard (PCI-DSS) compliant, meaning they make use of internationally recognized information security standards to protect payment information and combat payment card fraud. In addition, Maya Business also carries out IP address location checking and proxy detection to detect suspicious transactions while protecting customer privacy. It’s best to utilize all these features to maximize your store’s protection against theft, scams, and fraud.

5. Collaborate with Others and Stay Vigilant

Working hand-in-hand with law enforcement agencies, security professionals, and neighboring businesses is essential for maintaining a safe and secure shopping environment. By sharing information, coordinating responses to security threats, and seeking assistance in investigating incidents, the retail stores in your area can strengthen their defenses against scams and theft. Additionally, fostering a culture of vigilance among employees and customers can make it easier to identify and address security concerns proactively.

6. Update and Evaluate Security Measures Continuously

Scams and theft strategies are ever-changing. You need to continuously evaluate and update security measures to adapt to these changing threats and vulnerabilities. This is done by regularly assessing the effectiveness of existing security measures and investing in new technologies and training programs as needed. These strategies empower retail stores like yours to stay ahead of evolving threats and maintain a proactive approach to security management. Additionally, staying informed about emerging scams and security trends by monitoring industry news and networking with other retailers can help your retail stores anticipate and respond effectively to potential risks.

Protect the Integrity of Your In-Store Transactions by Using Maya Terminal

Sign up for Maya Business to access Maya Terminal and other payment and business banking solutions that make use of world-class security measures.

In addition to boosting your in-store protection against scams and theft, setting up a Maya Business account lets you open a Maya Business Deposit account and use it as your settlement account. With an industry-leading 2.5% per annum interest rate, you’ll earn PHP 25,000 in interest per year on a PHP 1 million deposit. It also allows you to send money to your partners and suppliers for free via InstaPay and PESONet, reducing your transaction costs.

Signing up also qualifies you for a no-collateral Maya Flexi Loan offer of up to PHP 2 million in just 3 months. Just use Maya Business as your primary processor for all wallet and card payments. The more you use our solutions, the better the loan offer will be.

Create your account today to start enjoying all these benefits.