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How to Pay Millions in GDPR Fines

Corporate Compliance Insights -

10 Behaviors That Will Put Your Organization at Risk If your company isn’t ready to comply with the GDPR, then you may need to sound the alarm. Fines for noncompliance could be 4 percent of your company’s annual global revenue. This is not a joke. If you don’t want to be responsible for putting your company The post How to Pay Millions in GDPR Fines appeared first on Corporate Compliance Insights.

(This is only a summary. Click on the headline to view the entire article at Corporate Compliance Insights and participate in the discussion.)

Loss Prevention Certification: Recently Certified – April 2018

Loss Prevention Media -

Professional excellence requires dedication and responsibility, and is something that the best continuously strive to achieve. In order to maximize potential, it is essential that professional development is seen as an ongoing process. We should always be looking for ways to improve our skills, abilities, and base of knowledge as a means to maximize performance. Loss prevention certification is a means of establishing and validating that standard of excellence.

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We are pleased to recognize and congratulate those industry leaders who recently obtained their LPC certification. Despite their demanding schedule and having other impressive educational credentials, they still saw the value and took the time to obtain this industry-leading LPC credential.

In order to achieve the highest standards of excellence, loss prevention professionals must embrace the importance of continuing education as a gateway to higher performance and achievement within the profession. The best way to invest in our future is to invest in ourselves, and each of us holds the responsibility to maximize our talents and abilities to best serve our professional ambitions.

Loss prevention certification is an investment that we make in ourselves. It is not simply a commitment to higher learning, but also a dedication to reach a higher standard. Each of these individuals is helping to raise the bar for the profession; and has earned both their designation and respect of the loss prevention community.

The Loss Prevention Foundation is pleased to recognize and congratulate the following individuals who have successfully completed all of the requirements set forth by the board of directors to be LPQualified (LPQ) and/or LPCertified (LPC):

Lucio Amicci, LPC Zone Manager, APP Sears Holdings Charles Bailey, Jr. LPC CFI Regional Asset Protection Manager Hibbett’s Sporting Goods Shawn Bradley, LPC Loss Prevention and Safety Manager Lowe’s David Chartrand, LPQ Area LP Manager Goodwill Industries of Seattle Miranda Collins, LPC Ecommerce Fraud Investigator PETCO Animal Supplies Michael D’Antonio, LPQ LP Manager Stew Leonard’s Darlene De Francesco, LPC Area Security & Loss Prevention Manager FedEx Office Nathan Dowling, LPQ Director of Surveillance & Security Buffalo Run Casino Nicholas Ferris, LPC Asset Protection District Manager Rite Aid Tyler Grandy, LPC Loss Prevention Analyst Dick’s Sporting Goods Michael Hawkins, LPC Loss Prevention Manager Lowe’s Aaron Henderson, LPC CFI Director Loss Prevention Penske Bruce Herritt, LPC Auto Center Manager Walmart Stores Ciera Hilton, LPQ Regional Loss Prevention Manager Protos Security Robert Jevarjian, LPQ LP Manager Stew Leonard’s Slade Jordan, LPC Asset Protection Coordinator Walmart Stores Arron Knight, LPC Regional EHS & Loss Prevention Manager FleetPride Erin Koons, LPQ AP Operations Manager Walmart Stores Lincoln LeFebvre, LPC Senior Manager – Field AP The Home Depot Alan Lott, LPC Project Manager Investigations 7-Eleven Kate McGorty, LPQ Loss Prevention Specialist L.L. Bean Kevin Mgrdichian, LPC District Loss Prevention Manager Sears Holdings Brian Naughton, LPQ Loss Prevention Ambassador Nordstrom Pankaj Patel, LPQ Loss Prevention Analyst Indigo Kelley Portner, LPQ Asset Protection District Manager Rite Aid R. Bryant Price, LPC Regional Director Loss Prevention Gabriel Brothers Donald Satterfield, LPC LP Process Mgr The Home Depot Steven Smith, LPC Area Loss Prevention Manager ULTA Beauty Steffen Steudte, LPQ Asset Protection Manager Sears Holdings Mandie Wells, LPQ Corporate LP Supervisor KPH Healthcare Services Ashley Winkelmann, LPC Corporate Investigator 7-Eleven

It is our responsibility to manage the process; driven by individual learning experiences and carrying a personal signature for success. Continuing education, training and skills development, lifelong learning activities, intellectual nourishment and exposure to new ideas all contribute to that plan. Are you taking the necessary steps?

To view the Recently Certified for March 2018, click here.

For more information on loss prevention certification and the certification process, contact the Loss Prevention Foundation at www.losspreventionfoundation.org.

The post Loss Prevention Certification: Recently Certified – April 2018 appeared first on LPM.

CCO Leadership in an Age of Dynamism

FCPA Compliance & Ethics -

One of the most constant things about the compliance profession is its dynamism. Compliance programs are not static and the compliance profession is not static. Today’s cutting edge in compliance will be tomorrow’s best practice which will be next month’s standard expectation. While this drives those who focus on the law around compliance batty, properly [...]

The post CCO Leadership in an Age of Dynamism appeared first on Compliance Report.

Corporate Intellectual Property Is Being Devalued by Washington

BRINK News -

This is the second piece in a week-long series on intellectual property. You can read the previous piece here.

Not many years ago, business leaders concerned themselves with only a business’s tangible assets. Those days are long gone. Today, intangibles make up the majority of corporate assets, sometimes up to 80 percent. Intangible assets include patents, trademarks, copyrights and trade secrets—with patents alone comprising 20 percent to 30 percent or more of a company’s market value.

Savvy business executives now regularly monitor patent values. Business transactions involving a patent portfolio can affect stock values and have significant financial consequences.

Determining patent values is inherently challenging. Unlike stock markets, there is no open market for patents and thus no ongoing quantification of value. But the business leader’s job has become all the more difficult because Washington, like the proverbial “thief in the night,” has upended the system, vastly depressing patent values by as much as 60 percent in just the last three years, according to some economic studies.

In 2011, the U.S. Congress passed the America Invents Act (AIA), creating a unique procedure for cancelling patents, even after a patent is examined by experts at the U.S. Patent and Trademark Office (PTO). Under the AIA, any patent can be attacked—by anyone and at any time. Imagine if a neighbor—or even a stranger—could repeatedly challenge title to your home, year in and year out. Could you get a mortgage? Certainly not. The lender would run from the high risk.

Business investors, such as venture capitalists and hedge fund managers, and internal company managers are in the same boat as the mortgage lender. Why invest in a new product if the patent protecting it from competitive poaching can forever be challenged in AIA proceedings, especially when the rate of patent cancellation is so high?

Well, the AIA reviews have cancelled some of the best patents—those with high commercial value being enforced in expensive lawsuits—in all technology areas, including pharmaceutical, biotechnology, and computer technology. AIA reviews cancel patents at rates of 60 percent or higher. In courts of law, it is half of that. Why the difference? Simply put, AIA reviews require less evidence, and they never hear from live witnesses. Congress also allows anyone to challenge a patent—whether a competitor or not, a stock short seller, or merely a zealot campaigning against all patents.

The patent office aggravated Congress’ AIA design defects. Contrary to courts, the Patent Trial and Appeal Board applies a broad patent interpretation, called the “Broadest Reasonable Interpretation” (BRI). Despite the name, nothing is reasonable about it, particularly when it conflicts with the patent interpretation used by the courts. The BRI was intended for use during initial patent application examination, when the inventor could freely amend the claims, which is not allowed in AIA reviews.

The current U.S. patent environment is starving its own companies while funding those of major foreign competitors.

Sen. Christopher Coons, D-Del., the only patent lawyer in Congress, introduced a bill to correct these and other procedural deficiencies. But the bill has not been given a hearing. David Kappos, the PTO director when the AIA procedures were adopted, has explained that the intent was always to improve the rules, as the PTO learns from actual experience. The new PTO Director, Andrei Iancu, is currently reviewing the procedures, so we may see some relief in the near term.

Contemporaneously, the Supreme Court upended the settled law about what inventions are eligible for patenting. Between 2010 and 2014, the court undermined the breadth and clarity of the U.S. patent statute, imposing its own vague notions and ignoring the four classes in the statute: “processes, machines, compositions of matter and manufactures.” The court used undefined terms, such as “abstract,” leaving the business community and the patent office guessing what was meant. The result: Thousands of patents plainly eligible under those words were invalidated. Even worse, hundreds of thousands were cast under a cloud of possible invalidity, left with little or no value.

The impact of the court’s incursion compounded the massive uncertainty from the AIA reviews. Money managers “voted with their feet,” diverting funds from U.S. R&D into safer domestic investments such as entertainment and to overseas R&D. No wonder, for the scope of eligibility was broadened in Europe and Asia and even China, just as the U.S. narrowed it.

Not surprisingly, the annual Chamber of Commerce ranking of national patent systems shifted dramatically. From 2012-2015, the U.S. consistently ranked first. Then in 2016, the U.S. fell to 10th, tied with Hungary. In 2017, the U.S. dropped two more places. The U.S. dropped off the top 10, for the first time ever, in Bloomberg’s 2018 ranking of innovation systems.

So, the current U.S. environment is starving its own companies while funding those of major foreign competitors. Startups were hit particularly hard because they are more dependent on patents to secure funding. Their formation rate fell 40 percent to a half-century low, with more failing than being created in one recent year—a first in U.S. history.

This is especially worrisome because U.S. startups create the most net new jobs, the most economic growth, and the most technological breakthroughs, as documented by studies of the Kauffman Foundation on Entrepreneurship and the U.S. Census Bureau. I explained this to the U.S. Congress when I testified, but they seemed not to have noticed, instead creating AIA reviews that make it unaffordable for startups and small technology companies to protect their inventions.

This was ironic indeed, because the Congress had intended the reviews to be “an alternative to expensive litigation.” Instead, in many cases, the AIA is an expensive, sometimes insurmountable, obstacle to fighting against patent infringement. So, despite my testimony and those of others, no corrections have been legislated in the seven years since the AIA was passed.

Congress, the Supreme Court, and the PTO have all defaulted on their leadership responsibilities to protect the U.S. innovation economy. Their failure is dangerous because our main competitive advantage over foreign rivals is our innovation/invention system.

The future fortunes of both individual companies and our entire nation have thus been put at risk by Washington. Unfortunately, so far, corporate leaders have not been informed or active in pressing Washington to repair the enfeebled innovation system.

CEO Transitions: From Shared Accountability to Culture Change Success

Culture University -

There is nothing more exciting than the moment a new leader is announced. Employees Google her/his name, wondering what she/he will do to change the organization. A new leader brings new ideas. She/he offers a new vision. They may even help the organization imagine better ways to remain relevant and thrive in the future. CEOs […]

The post CEO Transitions: From Shared Accountability to Culture Change Success appeared first on Culture University.

LPM Insider Survey: What Is the Greatest Public Misperception of ORC?

Loss Prevention Media -

Organized retail crime and the dramatic growth of ORC incidents have drawn significant attention both within the loss prevention industry and throughout the retail community in general as businesses search for ways to manage the threats and address the issues.

Whether dealing directly with professional shoplifters or otherwise battling the related fencing operations, cargo theft incidents, Internet crimes, or other associated offenses, tremendous effort and resources are being waged against those associated with these sophisticated criminal networks.

Retailers have established dedicated task forces to specifically deal with ORC issues. Industry associations have invested significant resources to combat organized retail crime efforts through education, awareness, and political channels. Organized retail crime associations (ORCAs) have been founded across the country.

There are efforts to influence leaders on Capitol Hill to continue to search for legislative solutions, enact stronger statutes, increase penalties, and encourage enforcement. There are also sponsored events in select markets where professionals can learn and network with law enforcement agencies and other retailers to enhance engagement and build stronger partnerships.

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Get the facts about shoplifting in our FREE Special Report,Tips on How to Stop Shoplifting:   What You Can Learn from Shoplifting Statistics, Organized Retail Crime Facts & Shoplifting Stories right now!

Yet despite these focused efforts, the public perception of organized retail crime is typically not viewed in the light that we might expect. Often perceived as a minor distraction in the larger scheme of things, theft and theft-related crimes—to include organized retail crime incidents—are not seen as a primary concern in the eyes of those outside of retail.

In the eyes of many, this is nothing more than a petty sidebar that pulls us away from other “real” or “more important” issues.

There’s often little or no separation between “minor” offenses and criminal networks. In fact, such perceptions can often spark sympathy for the perpetrators while ignoring larger concerns and the true impact of these crimes.

So how do we change this perception? What can we do to increase public awareness and influence a different way of thinking? Perhaps the starting point is to identify where the breakdown is taking place.

What do you think?

We look forward to your insights and opinions! Please feel free to candidly share your thoughts. All responses to the survey will remain anonymous.

Look for the results of the survey to appear in next Monday’s LPM Insider.

 

The post LPM Insider Survey: What Is the Greatest Public Misperception of ORC? appeared first on LPM.

FCPA Compliance: When a Foreign Official is a Third-Party (Part II of V)

Corruption, Crime & Compliance Blog -

Compliance officers are trained to spot risks.  They have an eagle eye and keen sensitivity.  In some cases they have to overcome inaccurate designations – my favorite is a “PEP,” a politically exposed person.  I sometimes hear the compliance equivalent of an “Oh, no, we can’t do business with him or her – he or she is a PEP.”  Of course, we all know that the designation of an individual as a PEP does not preclude potential business but is a moniker for heightened scrutiny, and rightfully so.

In many countries, however, companies may consider doing business with a foreign official, particularly with a third-party candidate that may include a foreign official owner.  Some may consider that the kiss of death – I say such a situation has to be navigated and analyzed carefully.

In many countries, government officials may permeate the economy.  Sometimes existing government officials are permitted to engage in commercial activities outside of their government positions.  Talk about a high-risk situation.  Luckily there are ways to move forward in such arrangements, subject to significant controls that need to be put in place.

Assuming that a foreign official has an ownership interest in the third-party candidate, there are a number of questions that need to be answered (and these are only just a few):

  • What is the nature and amount of the foreign official’s involvement and/or ownership interest in the third-party?
  • Will the foreign official have any involvement in the day-to-day operation of the third-party?
  • What is the foreign official’s interest in the third-party?
  • Will the third-party interact with the foreign government on behalf of the company, and if so, with which government functions and for what purpose(s)?
  • Does the third-party have a reason or incentive to ensure that the foreign government favors your company
  • What compensation arrangement does the third-party desire and how shall such payments be made to the third-party?

The FCPA Guidance at Page 64 addresses this specific scenario in a specific hypothetical.

Company A retains a local distributor to sell Company A’s products to the Ministry of Immigration.  The distributor seeks a discount for the price it pays Company A greater than the standard discount.  In addition, the distributor indicated that the Ministry’s procurement officials responsible for awarding the contract have expressed a strong preference for including a particular local company (Local Partner) in the transaction as a subcontractor of Company A to perform installation, training, and other services that would normally have been performed by Distributor or Company A. According to Distributor, the Ministry has a solid working relationship with Local Partner, and it would cause less disruption for Local Partner to perform most of the on-site work at the Ministry. One of the principals (Principal 1) of the Local Partner is an official in another government ministry.

In explaining the compliance consideration in this scenario, the FCPA Guidance notes (emphasis added), with regard to the specific issue of the participation of a government ministry official in the Local Partner that:

Company A should carefully scrutinize the relationship among Local Partner, Distributor, and Ministry of Immigration officials. While there is nothing inherently illegal about contracting with a third-party that is recommended by the end-user, or even hiring a government official to perform legitimate services on a transaction unrelated to his or her government job, these facts raise additional red flags that warrant significant scrutiny. Among other things, Company A would be well-advised to require Principal 1 to verify that he will have no role in the Ministry of Immigration’s decision to award the contract to Company A, notify the Ministry of Immigration and his own ministry of his proposed involvement in the transaction, and certify that he will abide by the FCPA and other anti-corruption laws and that his involvement in the transaction is permitted under local law.

Assuming that the red flags can be adequately addressed with the foreign official owner situation, a company has to ensure that it confirms and secures appropriate representations, warranties and certifications to mitigate the risks, including, at a minimum: (1) foreign official assurance that he/she will not be involved in day-to-day operation of business (since foreign official is likely to have government responsibilities); (2) foreign official certification that he/she has no relationship – professional, personal or familial – with any government official that will be used directly or indirectly to award any business to the company or otherwise used to secure any business advantage or otherwise used to obtain or retain any business; (3) foreign official shall notify any Ministry agency or part of any government with which the company shall interact, directly or indirectly, of the foreign official’s ownership interest in and involvement with the company; and (4) the foreign official’s involvement with the company does not violate local law.

The post FCPA Compliance: When a Foreign Official is a Third-Party (Part II of V) appeared first on Corruption, Crime & Compliance.

Facebook Wildlife Trafficking Report Spreads Around World 

Whistleblower Protection Blog -

Ambassador Robert Whitehead, U.S. Embassy Togo, inspects the seized ivory (2014)

News outlets around the United States have picked up and expanded upon an Associated Press story about the whistleblower complaint to the Securities and Exchange Commission (SEC) lodged against Facebook. The story has also been picked up internationally, including publications in Asia, Europe, and Latin America.

The proliferation of this important story is indicative of both Facebook’s global reach and the worldwide nature of illicit wildlife trafficking. Facebook is the popular social media company in the world, with 2.2 billion active monthly users in countries all around the world. Wildlife trafficking is equally widespread, and nations around the world confront this scourge. Individuals should know they can report wildlife trafficking to an American attorney or U.S. authorities even if they are citizens or residents of another country.

The impact of illegal trafficking, facilitated by Facebook, has been devastating. More than 100,000 elephants were killed in a three-year period; Central Africa has lost 64% of its elephants. Rhinoceroses have fared no better: in 2007, only thirteen rhinos were killed by poachers. The last five years have seen over 1000 rhinos killed each year. The last northern white male rhino died last month, meaning extinction of the subspecies is imminent.

NWC Executive Director Stephen M. Kohn has emphasized that “Facebook is not an innocent bystander to these crimes.” He added “we’re seeking the strongest possible legal enforcement to stop wildlife trafficking that is threatening the extinction of numerous species. Wildlife is a treasure that benefits all of humankind and no nation, or groups of criminals have the right to threaten beloved creatures treasured by all of humankind. Traffickers are stealing from our heritage, our culture, and all children.”

Read more about the complaint here.

Read some of the press coverage below:

Protiviti and Robert Half Host Webinar: “Turning Corporate Culture into a Competitive Advantage”

Corporate Compliance Insights -

Panel will also include Microsoft and Ethisphere executives discussing how to build, monitor and improve corporate culture Menlo Park, CA (April 23, 2018) — Join executives from Protiviti, Robert Half, Microsoft and Ethisphere for a complimentary, one-hour webinar: “Turning Corporate Culture Into a Competitive Advantage – It Starts With the People.” The following topics will The post Protiviti and Robert Half Host Webinar: “Turning Corporate Culture into a Competitive Advantage” appeared first on Corporate Compliance Insights.

(This is only a summary. Click on the headline to view the entire article at Corporate Compliance Insights and participate in the discussion.)

Carrie Penman on Hotline & Incident Benchmarking [Podcast]

The Compliance & Ethics Blog -

By Adam Turteltaub adam.turteltaub@corporatecompliance.org NAVEX Global recently released its 2018 Ethics & Compliance Hotline and Incident Management Benchmark Report, which leverages their database of helpline/hotline calls and other incident data.  In 2017 the company logged approximately 900,000 reports, which it used for this analysis. Compliance veteran Carrie Penman, who serves as the company’s Chief Compliance […]

Ethics & Compliance Leaders Could Use a Good Dose of Marketing 101

The Network Inc. GRC Blog -

The biggest challenge facing ethics and compliance professionals these days is creating a distinctive culture of ethics and respect in their organization – one that both defines and expresses their brand. While online training courses, instructor-led seminars, and eye-catching posters contribute to employee knowledge and awareness, getting employees to actually live the cultural lessons you’re trying to impart requires a healthy dose of good old-fashioned consumer-focused marketing. And in the world of compliance, our consumers are our employees. Let's discuss.

Ethics & Compliance Leaders Could Use a Good Dose of Marketing 101

Ethics & Compliance Matters™ by NAVEX Global -

The biggest challenge facing ethics and compliance professionals these days is creating a distinctive culture of ethics and respect in their organization – one that both defines and expresses their brand. While online training courses, instructor-led seminars, and eye-catching posters contribute to employee knowledge and awareness, getting employees to actually live the cultural lessons you’re trying to impart requires a healthy dose of good old-fashioned consumer-focused marketing. And in the world of compliance, our consumers are our employees. Let's discuss.

C is for Compliance

The Compliance & Ethics Blog -

Copyright © 2018 by Barney Rosenberg President, Ethics Line, LLC™ barney@ethicslinellc.com OK, this is kind of a touchy point with ethics practitioners.  So I am going to vent a little.  You’ll see why in a sentence or two and then you can weigh in with what you think about it. I was talking to a […]

Prescription Opioid Risks to the Workplace Explored at RIMS 2018

Risk Management Monitor -

SAN ANTONIO – When the White House declared opioid use a national Public Health Emergency under federal law in 2017, businesses began reviewing their policies and making efforts to curb their employees’ abuse of the drug in its prescribed form. This escalating risk to organizations is why the business impact of prescription opioid use was such a hot topic at RIMS 2018, where a session on April 17 focused on the practical and bottom-line costs of workforce use of prescription opioids. In a session the next day, attendees learned how liability policies are responding to government-led lawsuits against opioid manufacturers, and how to prepare for similar suits brought against other industries.

New Insights into the Impact of Opioid Prescribing to Injured Workers
Data displayed on Tuesday explored opioid-related correlations between worker, industry and employer. Presenters John Ruser, president and CEO of the Workers Compensation Research Institute (WCRI) and Michael Fenlon, senior director of corporate risk management for United Parcel Service (UPS) discussed opioid-related claims and suggested evidence-based information that can encourage a return to work without the prescriptions.

The effectiveness of prescription drug monitoring policies (PDMP) was explored, and Ruser explained that a reactive shift among prescribers has meant that states obligated to adhere to these policies have fewer prescriptions written.

“This shows that the more queries there are, the bigger the drop in opioid prescribing,” he said, using Kentucky as an example of a successful PDMP. He added that Kentucky’s HB1 law mandated the use of the PDMP and has set a standard among states since it was enacted in July 2012. Between 2011 and 2013, WCRI information indicated a 10% decline in prescriptions in the state, whereas prescription levels were flat in others that did not have comprehensive opioid reforms.

Fenlon said that when he learned in recent years that opioid overdoses—almost half of which arise from prescriptions—surpassed car accidents as the number one cause of accidental death, he realized the severity of the issue and its impact on the UPS workforce.

“Once someone gets to that third or fourth script, you can see how it leads to a vicious cycle,” he said. “We need to take ownership of this—in the workers comp space as well as the health care side.”

He noted that UPS’ overall pharmacy spend is about 7% of its total medical costs per year for lost-time (LT) patients, with opioids comprising about 22% of that amount. UPS employs more than 454,000 workers, and Fenlon said the company continually pays close attention to the LT patients who are the higher-risk group, with three or more scripts. He added that the collaboration of drug formularies, third-party administrators and UPS case supervisors has contributed to the 44% decrease of the higher-risk group between 2013 and 2017.

Both presenters conceded, however, that injured workers will likely get the medication they need, even if it is not in the form of opioids. “Those who are worried about pain management are noticing the trend in the decline of opioid prescriptions in some areas and ask: ‘What’s the alternative?’” Ruser said. “While there was a drop in that drug, there was an increase in the amount of NSAIDs [nonsteroidal anti-inflammatory drugs]. Clearly that’s what these prescribers are shifting to, so it’s not that these injured workers are not receiving pain meds.”

Members may access this PowerPoint presentation by logging in at the RIMS 2018 session handout page.

Opioid Lawsuits: A Tsunami of Litigation and Associated Coverage Issues
The topic shifted from boardrooms to courtrooms the next day, as current and pending multidistrict litigations filed by various governments (local, city and state) were examined. Covington & Burling LLP Partner Anna Engh and Marsh Managing Director John Denton (pictured below) discussed insurance policies’ responses to lawsuits and provided insight as to how to prepare should similar suits be brought against other industries.
Manufacturers, distributors, retailers, prescription benefit managers, doctors and clinics are all seemingly in the crosshairs of local municipalities and governmental entities, Engh noted.

“The main focus against the manufacturers is of alleged misrepresentation of the addictive nature of opioids. With respect to the distributors, it is failure to report and detect suspicious orders, or failing to have controls in place for their diversions,” Engh said. “You’ll see negligence pled in different ways, like common-law negligence, and also pled as violations of states’ controlled substance acts.” She added that public nuisance and RICO claims (Racketeer Influenced and Corrupt Organizations Act) also appear on the dockets.

With nearly 500 claims against pharmaceutical companies, distributors and pharmacies consolidated in Ohio alone, Denton said that the volume of work involved is daunting for insurance, risk and legal professionals.

“That’s thousands of pages of pleadings coming in every month. It’s a very difficult burden,” he said. “I think a lot of companies are tendering them to as many policies as possible. Hopefully a lot of insurance carriers will be understanding of this. And a lot of this will be sorted out later, either through discussions with the carriers or litigation.”

Denton added that because there is no federal judicial precedent on insurance suits, the progress on such matters will continue to be slow.

“Insurance coverage issues are typically an issue of state law. And with lawsuits in nearly every state, it would be nice to have a [United States] Supreme Court decision on some of these coverage issues, and that would bind everybody,” he said. “But the reality is that’s not going to happen. There will be decisions in multiple states so it may take some time before these issues get sorted out.”

Breaking News in the Industry: April 23, 2018

Loss Prevention Media -

Retail fraud probes lead to organized crime charges

Six men have been arrested on organized crime charges and other felonies following months-long retail fraud investigations by police in Westland and Canton Township in Ohio. The arrests came in conjunction with the execution of search warrants in several communities, including Westland, Dearborn and Dearborn Heights, on Wednesday. Authorities say the defendants, five of whom were formally arraigned Friday, worked in local pawn shops and bought and then resold high-end merchandise that had been stolen from big-box stores such as Home Depot, Lowe’s and Target. Some are also accused of selling stolen goods on eBay. “The impact of these cases illustrates why the Wayne County Prosecutor’s Office is trying to form a business protection unit,” said county prosecutor Kym Worthy in a press release. Retail fraud increases the prices of goods and services as well as retailers’ insurance costs, Worthy said.  [Source: HomeTownLife]

Employee charged with felony retail theft

Bond was set at $2,000 for a Best Buy employee charged with taking 22 cellular phones from the Norridge, Illinois, store, after keying them out of the store’s inventory by designating them as “damaged write-off,” police said. Freddy Lopez, of the 2100 block of North Narragansett Avenue, Chicago, was charged April 10 with felony retail theft of merchandise over $500. He is due in court May 4. A manager told police the theft was brought to his attention by an operations manager, who informed him that around March 20, there was an inventory adjustment to damage write-off for an iPhone 8 not in the warehouse on the write-off pallet. The manager told police he pulled inventory adjustments keyed to “damage write-off” by Lopez from August 2017 to April 2018 and learned there were 22 cellphones, valued at $18,901.38, that were not accounted for in the write-off pallet. Lopez refused to answer questions in regards to the incident, police said.   [Source: Chicago Tribune]

Suspect charged with fake sportswear trafficking

A man from Round Rock, Texas, has been charged with selling more than $325,000 worth of counterfeit sports apparel on eBay. Authorities in Austin arrested 58-year-old Steve Kim on federal counterfeiting charges, including one count of conspiracy to defraud the US and one count of trafficking in counterfeit goods. According to the indictment, from January 2010 until June 2, 2017, Kim knowingly sold more than $325,000 worth of counterfeit sports apparel on eBay. A vast majority of the items was acquired in China and shipped to his home in Round Rock. Those items included National Basketball Association (NBA), Major League Baseball (MLB), National Football League (NFL), and National Hockey League (NHL) jerseys and hats. On June 2, 2017, federal and state authorities executed a search warrant at the defendant’s residence and seized more than 2,300 items bearing counterfeit markings to include NBA, MLB, NFL, NHL, Reebok, Louis Vuitton, New Era and others. Suggested retail value of the seized items exceeds $189,000. Upon conviction, Kim faces up to five years in federal prison on the conspiracy charge and up to ten years in federal prison on the counterfeit goods charge.  [Source: Securing Industry]

Shoplifting suspects scuffle with store owner [Viral Video]

A Boston wig store owner was dragged along the sidewalk after attempting to chase down shoplifting suspects. Surveillance video shows two people looking at wigs inside Wig World Boston in Downtown Crossing. When the store’s owner approached them, the pair ran. The owner of Wig World was then seen on cell phone video in a scuffle with the shoplifters, who drag him along the sidewalk and punch him. “When I asked if they needed help they just grabbed and ran,” said store owner James Han. “I didn’t want to fight them or hit them or anything so I just grabbed one of them.” Han says this is the third time the thieves have targeted the store. Two of those incidents happened just this week. Han suffered bruises and scrapes after the confrontation. He says he immediately contacted police. He’s hopeful the video will help police ID the suspects.   [Source: CBS Boston]

LP Worldwide: Samsung Galaxy S9 phones worth $1M stolen from airport

Three armed Brazilian robbers disguised as airport workers stole a huge shipment of Samsung Galaxy S9 phones worth $1 million  from Rio de Janeiro’s Galeão International Airport, reported Brazilian Globo television on Wednesday. Reports from Brazilian local media channels show that the theft took place last Sunday when the Galaxy S9 has been in pre-sales in the country since last month and were expected to be delivered to customers later this week. The CCTV footage posted by Rumble shows three armed robbers that were disguised as airport workers, wearing their uniforms and walked into the building, hiding their face from the camera and pointing at different boxes.

As per the news channels, the robbers stole around 1,000 units of the newly launched smartphone while threatening cargo terminal’s staff and locking up workers in a room and carrying on with the theft. The stolen shipment’s value has been estimated to be around $1 million. The report also suggested that the gang have been believed to hide the stolen shipment in the Mare, a huge, nearby Rio favela, or impoverished community. Head of security for the Rio transport businesses’ union, Colonel Venancio Moura exclaimed, “The three criminals easily got into the cargo terminal and stole a million dollars’ worth of latest generation cellphones,” adding that they entered the warehouse where the smartphones had arrived just a day before. Furthermore, police confirmed that they had initiated the incident but, no arrests have been made yet.  [Source: Business Recorder]

SunTrust said employee worked with outside criminal when info on 1.5M clients was breached

Accounts for as many as 1.5 million clients at SunTrust Banks may have been compromised after an employee stole client contact lists, the company said Friday. During an earnings call Friday morning, SunTrust CEO William Rogers said the employee, who has now left the company, was working with a criminal third party when the client contact lists were stolen. Information about clients that might have been exposed in the breach includes name, address, phone number and certain account balances. The contact lists did not include personally-identifying information such as Social Security numbers, account number, PIN, user ID, password, or driver’s license information, the bank said. “We apologize to clients who may have been affected by this. We have heightened our monitoring of accounts and increased other security measures. While we have not identified significant fraudulent activity, we will reinforce our promise to clients that they will not be held responsible for any loss on their accounts as a result,” Bill Rogers, SunTrust chairman and CEO, said in a statement. The Atlanta-based bank said it was working with outside experts and coordinating with law enforcement on the case.  [Source: USA Today]

The post Breaking News in the Industry: April 23, 2018 appeared first on LPM.

Former Marine Recovering after Being Shot by Shoplifter

Loss Prevention Media -

Fresno, California, Police say a man and a woman entered the O’Reilly’s Auto Parts store on North Blackstone Ave in North Fresno just before ten on Thursday night. Two store employees observed the man lift a relatively inexpensive auto accessory and pass it to the woman.

The clerks confronted the couple at the door, and Fresno Police Chief Jerry Dyer says the argument led to a fight.

” That physical fight ultimately led out into the front of the store, and at one point, the male suspect pulled out a handgun from his waistband fired it one time and struck the store employee in the stomach.”

 The suspects drove away from the store in a black Audi.

 The victim, 38-year-old Steve Austin was rushed to the hospital.

His father Larry says he cried when he first learned his son, a Marine Corps veteran of Desert Storm had been shot.

 But, Larry said he was relieved when he learned the gunshot wound went clean through, and so far it looks like his son will recover.

 “When I saw him in the hospital bed I felt good because he looked normal.” 

Chief Dyer says it’s disturbing because now even some shoplifters must be considered possibly armed and dangerous.

 This is initially a shoplifting that turned into a violent crime which is not uncommon.” 

But Chief Dyer says surveillance cameras and other evidence have him believing the suspects will be caught.

”I am very confident we are going to be able to solve this case quickly and to be able to arrest the male and female responsible for this crime.” 

Larry Austin says doctors have told him his son Steve could soon be released from the hospital and be recovering at home.   [Source: ABC30 Action News]

The post Former Marine Recovering after Being Shot by Shoplifter appeared first on LPM.

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