New report highlights country's ongoing vulnerability to cargo theft as well as the trends during the first half of 2020.
Freight Crime in South African Supply Chains
13/10/2020
The prevalence of cargo theft incidents continues to have a material impact on stakeholders in the supply chain in South Africa. Analysis of recorded incidents, increased data sharing agreements, collaborations, and widespread dissemination of findings all serve to improve our understanding of the underlying risks. Knowledge empowers stakeholders to take action, protecting their businesses and those they represent in the supply chain, and reducing the frequency and impact that this type of crime inevitably has.
TT Talk - In transit storage
08/09/2020
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.
TT Talk - Reimagining secure truck parking
08/09/2020
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.
Despite being designated as essential services in many countries, in accordance with local government and World Health Organization (WHO) guidance, many businesses within the global logistics sector have had to change their work practices. In some cases, this includes leaving premises unoccupied for an extended, indefinite period.
TT Talk - COVID-19: heightened risk of fraud
07/04/2020
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.
The second annual report on cargo theft worldwide, issued today by leading international transport and logistics insurer, TT Club and global provider of supply chain intelligence, BSI confirms the overwhelming targeting of cargo trucks compared to all other modalities.
The importance of implementing robust due diligence procedures, incorporating all aspects of your business, cannot be underestimated as key risk mitigation. If something appears too good to be true, then it probably is.