Food and Fuel Top Global Cargo Thefts

As a proportion of cargo theft, hijacking thefts have decreased and are now second only to theft from facilities.

According to statistics from a supply chain business, food, and beverages are the commodities that are stolen the most globally, with theft rates rising by 2.8%.

The industries most impacted included agriculture, oil and gas, and automotive.

The report showed that thefts by hijacking have decreased from 24.4% of cargo theft to 17%.

These are now second to theft from facilities, which has climbed from 24.2% to 26%, accounting for more than a quarter of total thefts.

While thefts from electronics, agriculture, and construction have decreased, thefts from automotive and fuel are on the rise.

Although cargo theft overall has decreased due to hijacking, the supply chain business observed that this significantly impacts global supply chains, particularly those for food, pharmaceuticals, and construction materials.

Carrier fraud on the rise

The transport and logistics insurance business research sees criminal fraud as a major and growing threat within the global supply chain.

Due to the almost exclusive use of online facilities for processing business transactions, a wide range of fraudulent activities can take advantage of the supply chain’s complexity.

84% of transport and logistics insurance company claims involved carrier fraud, in which criminals pose as haulers and other subcontractors, including drivers with forged documentation.

No one should underestimate how profitable an industry fraud is, including freight forwarders, shippers, carriers, container owners and logistics, ports, warehouses, and depot operators.

Fraudsters can easily steal significant sums of money or consignments of cargo using sophisticated, low-risk strategies, according to the managing director of a transport and logistics insurance company.

In most cases, sophisticated organized crime gangs, not opportunistic individuals acting alone, are responsible for the fraud incidents that target global supply chains.

As seen by the recent disruption to the freight transport system, they have well-honed tactics that are adaptive in the face of detecting devices and changes in operating procedures. We must raise our level of awareness and readiness to protect our businesses.