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The report, which reflects whole year data from 2020 compiled by leading international transport and logistics insurer, TT Club, and global provider of supply chain intelligence, BSI, highlights significant new trends in risks both regionally and globally.
Read more about supply chain challenges and protection of cargo from cargo theft as the world prepares to distribute the vaccine
Motorway Buddy, the app to assist road hauliers and drivers to accurately plan their overnight parking, has been enhanced with UK police-sourced theft and vehicle interference data to identify safer parking options.
New report highlights country's ongoing vulnerability to cargo theft as well as the trends during the first half of 2020.
The curse of cargo theft continues to impact stakeholders in the supply chain. Analysis of incidents, increased data sharing agreements, collaborations and widespread dissemination of findings, all serve to improve understanding of the underlying risks.
The freight insurer's investment is seen as a significant initiative in developing a unified platform to help hauliers and drivers control the risks of theft and damage effecting the most vulnerable transport mode in the supply chain.
While many of the Western consumer economies tentatively explore the easing of social restrictions, the global supply chain environment remains significantly disrupted and operators continue to face many challenges. International freight insurer, TT Club seeks to guide them with advice for turbulent times.
As consumer demand and manufacturing production slows in many parts of the world, cargo, either in containers or stripped from transport units, is building up in warehouses, port terminals and inland depots. International freight and logistics insurer, TT Club warns of the additional risk this is bringing operators.
Stakeholders in the international supply chain can find themselves unwittingly exposed to many types of fraud during the normal course of business. Connectedness provides fraudsters greater ease to transact and a lower risk of apprehension. The current pandemic-induced dislocation and additional logistics challenges simply increase the risks. Be alert!
Cargo theft continues to blight the international supply chain, giving rise to disruption, unpredictability and widespread financial exposures. Whilst there are obvious commercial impacts, the loss of cargo and ensuing insurance claims for example, studies continue to develop a greater understanding of the overall impact of cargo theft, both economic and societal. It is widely believed that organised criminal gangs are often the orchestrators of cargo theft and that the proceeds inevitably support other illicit trades.