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The Underappreciated Security Threat to Your Financial Health

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Jewelers may be ‘greatly underestimating’ this risk.

About one in three of jewelers believe armed robbers pose the biggest security risk to their business’s financial health, according to the results of INSTORE’s 2017 Big Survey.

That is much higher than the one in 10 who perceive burglars to be the No. 1 threat.

To be sure, an armed robbery is a frightening prospect. But John Kennedy, president of the Jewelers’ Security Alliance, expressed concern that some jewelers may be “greatly underestimating” the danger of burglary, noting that in the first six months of 2017, it was the biggest source of financial loss for American jewelers both in number of events (103) and dollar losses ($8.9 million).

“With respect to burglary, jewelers can’t rely on TL-15 or TL-30 safes; they need line security for their alarms, and must respond with police to every alarm condition,” Kennedy said.

Shoplifters

2017
 

15%

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2013
 

18%

 

Smash and grab thieves

2017
 

20%

 

2013
 

17%

 

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Armed robbers

2017
 

32%

 

2013
 

25%

 

Burglars

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2017
 

12%

 

2013
 

9%

 

Internet scammers

2017
 

10%

 

2013
 

6%

 

Staff

2017
 

8%

 

2013
 

19%

 

Home invasion/kidnap gangs

2017
 

2%

 

2013
 

6%

 

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