What are the best ways to deal with a 12-year-old child who frequently steals inside the home despite his mother's attempts to deter him?

A child's practice of stealing in his parents' home may be due to being deprived of things he desires, or due to being influenced by bad company. The treatment for this phenomenon is to frankly talk with the child, understand his desires, fulfill what is possible without contradicting proper upbringing, and advise and guide him with stories that glorify virtues and disparage vices like stealing, while also having the option of punishing him in a way that deters him.