Blog Post: Understanding Asset Protection "Is theft an issue"

Today there are dozens, if not hundreds, of security related products available on the market. This month we are going to analyze some of the methods used to protect hard assets such as personal property, tools, vehicles, and other various types of equipment.

Did you know that in the entire U.S. only two percent of stolen property is returned? The reason is that, all too often, police have no way of proving the property they have recovered is actually stolen and who it might really belong to.

So, how can we improve the recovery rates for stolen property?

One of the most obvious ways is to mark property and equipment. Some businesses do that with some sort of property control program that includes recording serial numbers and nomenclature and often includes a property control label. However, marking is not as simple as it sounds. Not any marking will do.  If the marking method uses something that can easily be spotted -- like a property control label -- the thieves will remove or obliterate the marking or serial number and thus render it worthless. If the marking is covert, so the thieves cannot easily remove or obliterate it, then you have to wonder if the police will spot it...and if they do, the issue then becomes how they will link that marking back to the owner. Normally this means and education and awareness program for police departments. Since thieves do not just operate within a single police jurisdiction and stolen property often does not remain in the area where it was stolen for long, this education program has to be nationwide. It also means an appropriate and properly maintained database and probably a good web site and/or toll free number.

The key is to mark parts and elements so the police, if they recover anything, can identify it as: (a) stolen (that requires identifying the legal owner) -- so the thieves can be prosecuted, and (b) the police can then return it to the legal owner (recovery).

According to Florida Department of Law Enforcement (FDLE) yearly crime reports, in the past two years, state-wide motor vehicle theft losses totaled $965,413,556. The total recovered was $569,421,566. That means there is $395,991,990 of unrecovered, stolen vehicle related property out there in Florida alone.

What are the methods used to try and protect business or personal assets?

Alarm

An alarm system provides a detection method that notifies there has been an unauthorized entry. But the effectiveness of an alarm system is limited by need for a response (if no one hears the alarm, no signal is received or no one pays attention to it...there is no response) and there must be enough delay time to allow someone to respond and get to the vehicle or premises before the thief leaves.

Transponder

Limited by the need for detection; if the owner/police do not know the items have been stolen, there may not be time to activate the transponder before the transponder can be separated from other items or from components.

Branding

It can be obliterated also it needs to be done in multiple locations in order for it to be effective, and then the questions is: are police nation-wide trained to identify the brand and trace it.

Micro Chips

Police are usually not trained to scan for them. The methodology and cost can be an issue for both police and the user and limit the number of microchips that are needed for effective and complete coverage of all components.

Locks

Locks can slow down a thief. But locks are only a delay mechanism. Given enough time a thief can break through most locks or bypass them. You also need detection and response. Delay alone is ineffective. Detection could be provided by an alarm system but you still need a response capability. The benefit of the lock is that it may delay a thief long enough and they might give up. But, if it becomes apparent there is no response, a lock alone will not prevent a determined thief.

Stamping or Labeling

Stamps and labels can be obliterated or covered and police are not trained to look for them.

The trick to marking is that it needs to be done in multiple locations and done in a way that it can not be spotted by a thief but can be found and understood by police nation-wide. It is also important to understand the limitations of relying on a single approach and use a multi-layered approach to protect your assets. Having a alarm alone may not be enough. Having a transponder alone may not be enough. Having both is better but it still may not be enough. There is no single magic bullet to prevent theft, but there are several things you can do to enhance protection for your assets.

The only way to protect your self and your assets is having a holistic approach, understand current systems and their limitations, and use multiple, overlapping systems to fill the gaps identified in a comprehensive risk assessment. Don't assume that your current systems are adequate. Technology changes and as soon as a new system enters the market, the bad guys/gals are already trying to figure out how to defeat it.

Some businesses and people say accepting loss as the "price for doing business." That is not true and eventually that attitude will cost you big. If you are lucky enough to have small losses, over time they become "real money" too. Losses can be prevented most of the time and when prevention fails, you still have a chance to recover the stolen property. But, that is only the case if you have planned accordingly. BSSG can help you evaluate systems and design a protection approach that is reasonably priced and truly effective.