CAIB 2 - Chapter 6 - Flashcrds

Approximately 2 million property crimes occur annually, impacting both commercial and residential properties.

Over 75% of property crimes remain unsolved, highlighting the challenge in prosecution.

25% of bankruptcies are linked to criminal activity, showing crime can disrupt businesses.

40% of property crimes annually involve commercial properties, signifying businesses are vulnerable.

Commercial buildings face various criminal threats like vandalism, burglary, and arson.

Items like business stock and equipment are often targeted by thieves due to value and portability.

Easily convertible items attract thieves, increasing the risk of theft.

Higher-value items allure thieves, making them prime targets.

Portable items are more prone to theft compared to fixed assets.

Doors, windows, roofs, walls, and even HVAC vents are common targets for forced entry.

Safes, chests, and vaults are targeted for theft through mechanical, thermal, or explosive means.

Unauthorized access using keys, codes, or insider involvement.

Criminal act using force or threats to gain access.

450,000 cases of vandalism annually, with some exceeding $1,000 worth of damage

The practice of secretly gathering data from competitors.

Protection focusing on only certain entry points (doors, windows), not complete.

Complete security of all entry points (doors, windows, walls, ceilings, etc.)

More secure locks resistant to picking and sawing compared to standard locks.

Security devices triggering alarms when doors or windows are tampered with.

Security that detects broken glass in windows or doors.

Included in the commercial crime insurance policy.

Insurance Coverage for losses due to premises:

Money orders and counterfeit cheques.

It is hard to predict losses and employees take a long time to discover if possible. Surprise audit checks are essential. What can be done to improve security?

Loss to money and securities by destruction of safe. Securities shredded by vengeful thieves.

Money orders and counterfeit cheques.

Loss to money and securities by attempted stealing of safe. Securities shredded by vengeful thieves.

A partner or any employee who is authorized to have care and custody of the insured property outside the premises.

Altering that yritiperet ar athed veith qubantingit your blank cheques, control the use of your fax machine and plates.