4 fundamental insights from NRF PROTECT 2026

Enterprise risk leaders are being asked to look beyond traditional loss prevention and take a broader, more strategic role in managing risk across the enterprise. From shifting mindsets and lean loss prevention teams to retail fraud tactics and artificial intelligence, enterprise security risk management leaders are facing a new world. 

At NRF PROTECT 2026, June 8 – 10 in Grapevine, Texas, enterprise risk leaders in digital fraud prevention, asset protection and loss prevention roles explored how cross-functional strategies and smarter technologies are reshaping physical and digital environments in retail. 

Retail risk now touches every part of the business 

Throughout the past decade, retail has seen a dramatic shift in landscape and the way LP and AP leaders think of risk. LP leaders are leaning into an enterprise security risk management mindset, looking at risk from multiple angles within the business. Victoria’s Secret & Co. Senior Vice President of Asset Protection John Talamo attributes this evolution to increased globalization, rising physical and digital threats, workplace violence, mass protests, global conflict and the global pandemic. 

“These events have reinforced the reality that security risks can materially impact business operations, brand reputation and also enterprise value,” Talamo said. 

Modern asset protection goes beyond traditional spreadsheets and siloed approaches to embrace new initiatives and feet-on-the-ground efforts. Sephora Vice President of Asset Protection Rob Ruiz emphasized the importance of learning and being in the field, saying, “If you really want to put your finger on the pulse of what’s happening in the business, stay close to the register.” 

Front-line workers have a front-row seat to the everyday challenges and issues retailers face when it comes to risk. Working closely with team members in-store can lead to fast change and real-time solutions based on valuable feedback. 

AI can support, but trust and judgment remain essential 

Artificial intelligence has continued to develop and remain relevant in conversations among leaders across the globe. Its uses and impact are no longer theoretical but are being played out in real time, with no end in sight. Retailers are advised to adapt AI into their workflows responsibly and consider the risks, especially in sensitive LP contexts like investigations and interviews. 

Florida Institute of Technology Assistant Professor of Forensic Psychology Brandon May took the stage at NRF PROTECT live on the “Truth Be Told” podcast to discuss the implications of AI on humans and business, pointing out problems with confirmation bias and how we are training AI models today. AI can be helpful, but individuals should not undermine the importance of exercising and practicing critical thinking skills. 

“We know these systems on average make errors between 17%-33% of the time,” May said. “That’s actually probably on par with humans. The difference is they’re harder to detect.” 

LP experts need to be cautious and implement governance when using AI. AI should not replace professional judgement and in many cases may not be equipped to safeguard confidential information. 

Small teams can still create enterprise-wide impact 

While the impact of loss prevention on profit, security, brand reputation and more may be significant, it’s often small teams that are leading the charge. Therefore, retailers should focus less on trying to do more but rather making better decisions and executing thoughtful prioritization. 

“Stores don’t need more checklists,” said Ashley Shimek, regional loss prevention manager – Madewell Total Brand at J.Crew. “They need clear priorities.” Small loss prevention teams should focus on what matters most and center high-value work. 

Fraud prevention starts with awareness and training 

Return fraud and phone scams are not new issues in the loss prevention environment, though fraudsters continue to become more sophisticated in their efforts. Today’s players are excellent at following playbooks and retail teams must stay vigilant in spotting the patterns. 

“One of the most frustrating things about the process is to see the exploitation of the trust that you build in either your brand or with your employees be manipulated and used for nefarious purposes,” said Amazon Senior Corporate Counsel Tom Olsen. 

Phone scams and social engineering continue to target employees, stores and customer support teams, relying on tactics of urgency and authority to pressure people into action. Return fraud is similar in practice and often follows patterns.  

Key ways to combat fraud tactics include training your employees to recognize the warning signs and thorough tracking. 

As fraudsters become more sophisticated, AI continues to evolve and the retail landscape shifts, LP leaders must confront challenges with an enterprise risk mindset. Tackling retail crime is a joint effort and takes collaboration from across the enterprise and loss prevention community.