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  April 11th, 2024 | Written by

Global Cargo Theft Trends

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In the recently released Annual Cargo Theft Report 2023 by TT Club and BSI SCREEN Intelligence, high inflation emerges as a significant macroeconomic catalyst driving cargo crime patterns, particularly evidenced by the increase in theft of food and beverages.

For the fourth consecutive year, TT Club and BSI have collaborated to shed light on prevailing global cargo crime trends from the previous year. The report aims to raise awareness among stakeholders in supply chain security and offer mitigation strategies to address these persistent threats.

Tony Pelli, Practice Director at BSI, emphasizes the substantial impact of cargo theft, stating, “Cargo theft is a significant issue, resulting in substantial financial losses for companies each year and disrupting critical supply chains, ranging from pharmaceuticals to semiconductors.” Pelli underscores the importance of accurate and timely intelligence in combating this problem and identifying the most vulnerable locations and types of theft threatening global supply chains.

Mike Yarwood, Managing Director Loss Prevention at TT, elaborates on the evolving crime patterns, highlighting new fraudulent methodologies and a focus on both historical and current geographic risk factors. Yarwood emphasizes the importance of tightening security processes to address these emerging threats. Additionally, the report includes case studies that spotlight prevalent regional or country-specific risks.

The Annual Cargo Theft Report 2023 provides valuable insights into the shifting landscape of cargo theft, equipping stakeholders with the knowledge needed to enhance security measures and safeguard supply chains against evolving threats.