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US Jewelry Crimes Rise to 1,394 in 2017

Average cyber theft came to $1.2 million.
Mar 21, 2018 10:32 AM   By Rapaport News
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RAPAPORT... Increases in cyber theft and smash-and-grab robberies are contributing to higher crime levels in the US jewelry industry, the Jewelers’ Security Alliance (JSA) said in a report last week.

The total number of jewelry crimes reported to the JSA rose 12% to 1,394 in 2017, with smash-and-grabs climbing 15%.

Cybercrime groups are growing in sophistication and becoming savvier, the JSA noted. While total losses from all types of misconduct decreased 0.4% to $72.1 million, the cost of cybercrime to the industry grew. The average loss from cyber-theft incidents came to $1.2 million. 

“In 2017, JSA recorded a large dollar increase in cyber-enabled thefts by deception and impersonation,” the report said. 

US losses from off-premises crimes — those targeting traveling salespeople, show exhibitors and couriers — increased 39% to $18.1 million. The highest totals were in California, Florida, Illinois and New York.

Cybersecurity and theft prevention have come under the spotlight ahead of the Baselworld show in Switzerland, which begins this week. Every year, thieves monitor social media to help target exhibitors, security firm ISPS said last week.

Image: Jonn Leffmann
Tags: Baselworld, crime, cyber crime theft, cybercrime, ISPS, Jewelers’ Security Alliance, Jewelry, JSA, Rapaport News, Switzerland, US jewelry industry
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