According to the US Chamber of Commerce, annual revenue loss due to employee theft amounts to up to $400 billion. From large enterprises to small mom-and-pop shops, any business can be a victim of fraud, and the food and beverage industry is no exception.
The National Restaurant Association puts theft and fraud at approximately 4% of sales, and a recent study found that the average theft per restaurant worker is close to $500 per year with 3/4 of employees admitting to stealing from the restaurant. The same study concluded that 18% of employees had pocketed cash that should have gone into the cash register.
Avero has identified the major causes of transactional fraud in the restaurant industry and how to combat them, particularly manipulation of the point of sale system or transactional theft, with Avero Loss Prevention. Do you know the most common type of fraud in full service restaurants? Should you focus your time on coupon abuse, or should you be monitoring tips and gratuities more carefully? Or are you facing ane ntirely different scam?
In this free Avero whitepaper, you’ll find proven strategies for leveraging the data you already have in your POS system to detect transactional fraud and limit your losses, including practical advice on:
- Common types of scams in your restaurant
- Tools used to disguise POS fraud
- How to identify fraudulent transactions
- What type of suspicious behavior to look for on the floor
By reading this detailed account, you’ll be able to better identify theft in your restaurant and make any necessary changes to deter fraud and increase profits in your business. Learn more about Avero Loss Prevention here, and check out the different types of theft here.
