Signum Services Limited (Signum) serves to conduct investigations worldwide on behalf of TT Club and its Members. This article draws on the experience and observations of these former senior detectives, with particular focus on crime in the UK.
TT Club and BSI Supply Chain Services & Solutions have teamed up again to produce a full year analysis of cargo theft, together with some further loss prevention commentary to assist those considering how to combat this on-going threat.
TT Club and BSI have issued the second edition of their report on global cargo theft, the first to cover a full year. Highlighted findings include: theft from road vehicles once more accounts for the highest proportion at 84%; Slash and Grab the largest type of cargo theft at 26% globally but with significant regional variations; the combination of food, beverage, alcohol and tobacco making up the most common commodity group at 34% and South America topping the regional analysis of median value for each theft at $77,000.
TT Talk - Global cargo theft intelligence
26/11/2018
In conjunction with BSI Supply Chain Services and Solutions, TT Club has launched the first joint 2018 Semi-Annual Global Cargo Theft Intelligence and Advisory Report. The report demonstrates their shared goal ofr educating the transport and manufacturing sectors about dynamic cargo theft risks.
Security should be a primary element of an operator's risk management policy. Preventing unauthorised access to vehicles and the vetting of personnel and counterparties are essential mitigation for the risks associated with the improper use and theft of goods vehicles.
TT Talk - Cargo theft analysis
05/09/2017
Cargo theft remains one of the most significant causes of disruption in the supply chain and claims cost to the Club, accounting for around 10% by volume and cost of all reported claims in the last ten years.
TT Talk - Theft - instruct drivers carefully
05/09/2017
Freight is arguably most exposed to theft risk during road carriage. Clarity of contracting and instructions are inevitably key mitigations.
Cargo fraud and theft impacts everyone in the international supply chain. A buyer of cargo needs the same assurances as the provider of logistics services, who relies on others for contract fulfilment. These risks consistently are amongst the top five incidents seen by the TT Club that collectively account for about 2/3 of claims through the supply chain.
TT Talk - Theft trends
05/08/2014
An increase in both the sophistication and frequency of cargo thefts in 2013 has been highlighted in statistics released by TAPA (Transported Asset Protection Association). Interestingly - and in line with general expectation - the average value of reported cargo thefts continues to rise globally, notably in excess of US$300,000 in the EMEA region. This would suggest that the trend of highly targeted efforts by organised criminals continues, systematically identifying higher value cargoes. Unsurprisingly, the results in 2014 continue on the upward trend.
It can be difficult for a shipping line or other container operator to
TT Talk - Theft, Smuggling and Terrorism
07/09/2004
How much does cargo crime really cost? Globally, the value of stolen cargoes runs into hundreds of billions of dollars each year. The FBI estimates this figure for the US alone at over USD 18 billion each year. Others think that this is a gross underestimate and that cost could be as much as 45 billion dollars. Whatever the figure, it is a truly staggering sum.