Freight News, Logistics

Inflation spurs food theft

[ April 11, 2024   //   ]

Inflation is driving freight crime, says TT Club and BSI Screen Intelligence in their Annual Cargo Theft Report for 2023, published on 11 April.

The rise in food and beverages as a stolen commodity, from 16% to 24% of the total is one such indicator, they say.

The trends include an increase in olive oil thefts in Southern European countries following record poor harvests and a consequent rapid rise in the commodity’s  value.

The report also details crimes in Europe and the US that employ various types of fraud, including identity theft, fictitious pick-ups and drop-offs and credit fraud.  In South Africa so-called Blue Light gangs, who imitate police in order to stop vehicles are becoming more common.

In Asia there is much evidence exists of ‘insider’ activity leading to cargo theft from warehouses and trucks.

BSI practice director, Tony Pelli is said:  “Cargo theft is a problem that costs companies tens of billions of dollars each year and can cause significant disruption to important supply chains, from pharmaceutical products to semiconductors. Having accurate and up-to-date intelligence is the first step in combatting this problem and pinpointing the locations and types of theft that are most likely to harm global supply chains.”

TT’s managing director loss prevention, Mike Yarwood said that the insurer had also provided a series of case studies drawing attention to prevalent regional or country specific dangers.