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Criminals target stranded cargoes

[ May 16, 2022   //   ]

Supply chain congestion is increasing the threat of cargo theft, according to a new report.

The document, based on recent incident data for the whole of 2021 collated from sources including law enforcement agencies, governments and trade  by insurer, TT Club and supply chain intelligence firm BSI, reported a shift in emphasis in-transit, vehicle- based attacks to losses while cargo is at-rest in storage locations.  Widespread congestion at ports and inland facilities led to increased opportunity for thieves during the period.

The most frequently stolen products were agricultural produce (12%), food and beverage (14%), construction materials (9%) and electronics (10%) Significantly, many of the materials used to produce the latter two, such as nitrogen, iron ore, lumber, steel and semiconductors, have all experienced sharp price increases since the outbreak of the global pandemic due to shortages.

TT Club managing director of loss prevention, Mike Yarwood said: “Criminals have swiftly responded to the increased opportunities that supply chain congestion presents through the amount of cargo lying idle. In addition, the transport industry’s growing reliance on technology and a rapidly changing market for sourcing materials and components have opened up new avenues for criminals to take advantage of companies’ increased vulnerabilities.” 

BSI’s practice director for security and resilience, Tony Pelli,  also pointed out:  “To mitigate risk there are a range of safeguards, including careful verification of trucking companies and other sub-contractors; insisting on the provision of details such as driver’s name, trailer number and appointed pick-up times and background screening of employees.”

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