PRESS RELEASE:
The Annual Cargo Theft Report 2023 by TT Club and BSI SCREEN Intelligence has identified high inflation as a major driver of cargo crime patterns. The increase in theft of food and beverages is highlighted as a significant indicator in this trend.
Key findings from the 2023 Report include a rise in food and beverages (including alcohol) stolen globally, from 16% to 24%. Road remains the most common mode of theft at 71%, while theft at facilities has decreased from 30% to 23%. Top countries experiencing cargo theft include Mexico, USA, South Africa, Germany, and Italy. Electronics theft has slightly decreased to 9% of incidents but remains significant in terms of value.
The report emphasizes the different modus operandi by region, such as ‘Blue light crime’ in South Africa and ‘insider activity’ in Asia. BSI and TT Club aim to provide cautionary advice on global cargo crime trends and offer mitigation recommendations to combat these threats.
Tony Pelli, Practice Director at BSI, highlights the significant financial impact of cargo theft on companies and supply chains. He stresses the importance of having accurate intelligence to combat theft. Mike Yarwood, TT’s Managing Director Loss Prevention, points out the shifting crime patterns and regional dangers identified in the report.
The report includes case studies on olive oil theft in Southern European countries, fraud schemes in Europe and the USA, and Blue Light gangs in South Africa. The focus on corruption among employees and contractors in Asia is also emphasized.
Yarwood emphasizes the value of their combined experience in insurance and intelligence gathering for strengthening supply chain organizations against theft. The 2023 Cargo Theft Report is available for free download to provide practical actions and recommendations for enhancing supply chain security.
