A system and method of detecting fuel theft at a fuel dispenser. The system has a fluid flow meter, a pulser operatively coupled to said fluid flow meter, and a control system in electrical communication with the pulser. The control system is configured to calculate a flow rate of fuel being dispensed from a gasoline dispenser during a single dispensing transaction. The flow rate is sampled at predetermined time intervals during the single dispensing transaction. The system then compares the sampled flow rates to a predetermined flow rate pattern indicative of potential fraud. A shutoff signal is then provided to the dispenser to stop fuel flow through the dispenser if the sampled flow rates are substantially similar to the predetermined pattern.