The Annual Cargo Theft Report 2023, revealed by TT Membership and BSI SCREEN Intelligence, highlights excessive inflation as a big financial issue influencing patterns of cargo crime.

This 12 months’s report notes a selected enhance in theft of meals and drinks, together with alcohol, which now constitutes 24% of world cargo thefts, up from 16% the earlier 12 months.

Key findings from the report reveal that the majority cargo thefts happen throughout highway transport, accounting for 71% of incidents. That stated, theft from amenities has decreased from 30% to 23%.

The report additionally reveals the international locations most affected, together with Mexico, the USA, South Africa, Germany, and Italy. Whereas electronics accounted for 9% of incidents, the monetary affect stays substantial because of the excessive worth of products.

Regional variations within the strategies of cargo theft have been additionally famous, comparable to using faux police stops, generally known as “blue gentle crime” in South Africa, and “insider exercise” resulting in thefts in Asian international locations.

Tony Pelli, follow director at BSI, emphasised the broader implications of cargo theft and the way it causes firms issues past the billions of {dollars} stolen.

“Cargo theft is an issue that prices firms tens of billions of {dollars} every year and might trigger vital disruption to necessary provide chains, from pharmaceutical merchandise to semiconductors,” Pelli stated. “Having correct and up-to-date intelligence is step one in combatting this downside and pinpointing the places and forms of theft which can be more than likely to hurt world provide chains.”

Mike Yarwood, TT’s managing director for loss prevention, defined the corporate’s strategy to those points.

“In figuring out shifting crime patterns by way of new fraudulent methodologies and a give attention to each historic and present geographic threat, we search to help operators in tightening their safety processes,” he stated.

Yarwood additionally highlighted the report’s utility in providing actionable intelligence and proposals for mitigating dangers, comparable to elevated olive oil thefts in Southern Europe following poor harvests and rising oil values, and varied fraud techniques utilized in Europe and the USA.

“Our mixed expertise as insurance coverage supplier and provide chain intelligence gatherer is invaluable, not simply recording the small print of crime but in addition in recommending sensible actions and course of design options that can strengthen provide chain organizations of their struggle towards the specter of theft,” he stated.

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