Over €500m worth of stock stolen every year says retail body

Over €500m worth of retail stock is stolen every year in Ireland according to the national representative body for the retail sector.

A survey of 33 retail companies across the country has found that shoplifting, cash robberies and fraud have been on the rise for the past two years.

Retail Ireland wants those responsible to bear the full brunt of the law and has called for more resources for the gardaí to tackle the problem.

According to the body's director, Stephen Lynam, much of the stolen stock is ending up on the black market.