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Fight high-tech thieves with high-tech weapons

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This story appears in the December 2000 issue of Entrepreneur. Subscribe »

Like everyone else, thieves have gone high-tech. A new study finds crooks who prey on retailers go straight for the high-tech items.

Retail crime is big business in the United States: In 1998, it cost businesses more than $30 billion. According to Robert Blackwood, vice president of Winter Park, Florida-based Loss Prevention Specialists-Prevention Strategies Group, which released the study in September 1999, the best way to prevent losses and reduce crime is to fight back by training employees to use theft-prevention technology. "The [businesses] that do will have a distinct advantage in the marketplace over their competitors," says Blackwood. Look for more electronic "smart tagging" and sophisticated video surveillance equipment to help catch the crooks.

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