According to data released by the Jewelers’ Security Alliance (JSA) and quoted by IDEX Online, the cost of crime to US jewelers nearly doubled from the previous year. The 2022 Annual Crime Report reveals that losses skyrocketed to a record $129.4 million, marking an 84.6% increase from $70.1 million in 2021.
Among the reported burglaries, almost one in five were categorized as “Three Minute Burglaries” due to their swift execution. In a matter of minutes, perpetrators would smash a door or window at night, swiftly empty display cases, and disappear with valuable merchandise kept outside of safes.
The total number of crimes committed also hit a record high at 2,211, reflecting a notable 31.1% surge compared to the previous year. The JSA reported the loss of two lives, including a retail jeweler and a guard, as well as the deaths of three robbers during or following their criminal acts.
