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Fraud and Mitigating Risk – A Retail Educational Opportunity

The Plumb Club to host webinar with JA and Synchrony.

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(PRESS RELEASE) NEW YORK — The Plumb Club presents an important retailer learning opportunity in connection with Jewelers of America (JA) and Synchrony Bank. The virtual presentation, “How Big is Fraud – Mitigating Your Risk”, will be held in the Jewelers Resource Center Auditorium on Wednesday, July 27th at 1pm (EDT) and is open to the entire jewelry industry.

So, how big is fraud in retail? It is estimated that by 2023, retailers will be losing $130 billion yearly to fraudulent transactions. That number is expected to continue to rise annually!

Attending retailers will learn about:

  • Various types of fraud:
    • Internal (fraudulent refunds and credits)
    • External (identity theft, synthetic theft, first-party fraud, lost/stolen fraud, counterfeit fraud, account take-over fraud.
  • Key indicators of fraud, including identifying client behavior and patterns that could alert a sales associate to potentially fraudulent transactions before they happen.
  • Employee training and internal controls a store owner can implement to help mitigate risk.

This essential retailer information, along with statistics, insights, and prevention tips, will be presented by Mark Solomon, vice president of fraud investigations, Synchrony Bank. Solomon is responsible for investigating large-scale fraud, financial and cybercriminal activities for the institution. Prior to Synchrony, Solomon retired as “Detective 1st Grade” after a distinguished 26-year career with the Greenwich Police Department. He spent more than 18 years serving in the Detective Division, with 11 years assigned to the CT Financial Crime Task Force (U.S. Secret Service).

Register now and don’t miss out on this important information to help you do business.

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Celebrate Your Retirement with Wilkerson

For nearly three decades, Suzanne and Tom Arnold ran a successful business at Facets Fine Jewelry in Arlington, Va. But the time came when the Arnolds wanted to do some of the things you put off while you’ve got a business to run. “We decided it was time to retire,” says Suzanne, who claims the couple knew how to open a store, how to run a store but “didn’t know how to close a store.” So, they hired Wilkerson to do it for them. When she called, Suzanne says Wilkerson offered every option for the sale she could have hoped for. Better still, “the sale exceeded our financial goals like crazy,” she says. And customers came, not only to take advantage of the going-out-of-business buys and mark-downs, but to wish a bon voyage to the beloved proprietors of a neighborhood institution. “People were celebrating our retirement, and that was so special,” says says.

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