Cannabis retail stores are increasingly becoming targets for crime, mostly due to their high-value products and massive amounts of cash transactions.
As the legal cannabis industry grows, so do the risks that are associated with it. Cannabis retail stores are increasingly becoming targets for crime, mostly due to their high-value products and massive amounts of cash transactions. The unique nature of the cannabis business – where federal banking restrictions limit access to any traditional financial services – creates the perfect situation for possible crime. Cannabis stores are particularly vulnerable to crime, and private security officers can play a crucial role in mitigating these risks. Read on to learn more!
Why Are Cannabis Retail Stores Vulnerable?
There are a few reasons why cannabis retail stores are targets, and they include:
– High-Value Target: Cannabis products are in high demand, easy to sell on the black market, and could yield substantial profits. This makes cannabis stores attractive targets for burglary and theft. Shops that sell cannabis are usually seen as treasure troves by criminals.
– Cash-Heavy Business Operations: Due to federal regulations and the reluctance of financial institutions to work with cannabis dispensaries, a lot of shops operate primarily on a cash basis. This dependence on cash makes them top targets for robbery since they typically have large amounts of cash in the stores.
– Perceived Legal Gray Areas: Despite state-level legalization, the federal status of cannabis remains a complex issue. This perception creates a belief among a few criminals that crimes against cannabis organizations may be treated less seriously or not prioritized by the police.
Kinds of Crimes Targeting Cannabis Stores
Burglary and theft are some of the most common types of crimes against cannabis retail stores. Criminals might target product storage areas, cash reserves, and cultivation sites. These crimes will occur after hours or during periods of low staff being present. Other types of crimes include:
– Employee Theft: internal by employees is one other challenge. Employees could steal cash or products, sometimes colluding with external criminals. This crime will require careful monitoring and management with a security team
– Vandalism: Storefront shops are at risk of being vandalized, too, mostly from individuals or groups opposed to the store’s operations or who want to disrupt operations for other reasons.
– Armed robbery: Due to the cash-heavy nature of cannabis retail locations, armed robberies are a legitimate concern. These incidents could pose serious risks to customers and staff and usually involve violence or threats of violence.
Give ICS Security Services a call to learn how we can help!
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