Royal Mail
By Chloe Rigby

Retail crime cost the industry more than £700m in 2017, according to the British Retail Consortium (BRC). That’s 6% more than in 2016, according to the BRC 2017 Retail Crime Survey.

The BRC [IRDX VBRC] said that retailers spent an average of £29m each on non-cyber crime – and had upped their spend on preventing cyber crime by at least 400%. Over the period covered by the report, from April 1 2016 to March 1 2017, nearly half of respondents said they had seen a rise in the number of cyber attacks. However, the direct cost of fraud fell by £27m – or 15% – to £155m. Card not present, refund and insider fraud were the most serious types of fraud during the year.

The most prevalent…