31 Jul Facial Biometrics Cuts Shoplifting Losses by 50%
Shoplifting incidents continue to rise, forcing retailers to turn to facial biometrics as a security measure.
The increase in retail attacks, as well as a growing level of aggression from organized groups, is prompting widespread concern.
The 2021 “Retail Security Survey: The State of National Retail Security and Organized Retail Crime” report by the National Retail Federation provides some alarming statistics. According to the report, 64% of respondents observed a surge in losses from organized criminal groups since 2016, while 53% reported an escalation/increase in theft. What is more, 82% of respondents mentioned intensification in the ferocity of attacks and the involvement of weapons.
Facial recognition systems have proven to be highly effective in preventing theft and robberies. For example, according to the Daily Mail, a facial biometrics system installed in a major retail store chain prevents thousands of crimes each month. Additionally, Charged disclosed that a local convenience store saw a staggering 90% reduction in losses following the installation of an AI-based system.
Cameras installed in the store are constantly recording. The Cameras then extract facial images and create profiles stored in a database. An installed system then continually cross-references real-time video data against the biometric profiles catalogues.
If a customer is previously involved in theft, vandalism or is on a ‘stop-list’, the customer is then more closely followed and monitored by installed cameras. The cameras are then quickly able to detect illicit behaviour and can alert security personnel when necessary.
The camera also assists policing departments, giving them the necessary information to stop recurring thieves.
“The moment a person on the stop list enters the camera’s field of view, the operator is immediately notified. Based on our experience, implementation of Id-Guard saves security specialists time as they no longer have to spend hours sifting through video footage when investigating incidents,” says Cristiano J S Maffessoni, Francaza’s CIO.
Maria Kazhuro, RecFaces’ BDM in Latin America, shares, “RecFaces has developed two lines of ready-to-use biometric solutions specifically designed for the security and retail sectors. We’ve seen an immense demand for our ready-made solutions in Latin America, thanks to their quick and easy deployment on any equipment. Our solutions allow customers to identify offenders, instantly respond to incidents, conduct marketing research, and foster customer loyalty.”