![]() ![]() ![]() Given the choice between recovering their stolen cargo or being made financially whole, most cargo theft victims would likely choose the latter to avoid quality control issues. While records estimate cargo theft’s costs to be tens of billions of dollars worldwide, it is difficult to calculate the exact figure as most of these crimes often go unreported. Overall, the UK, Netherlands, Russia, Sweden, Germany, France and South Africa accounted for 572 or 92.2% of all recorded cargo crimes in the EMEA region in the first quarter of 2018. The other also involved the thefts of car parts – multimedia control units and shock absorbers – worth €1,900,000, which were stolen after a driver left his loaded vehicle unattended on an industrial estate in the German state of North Rhine-Westphalia over a weekend in January. This was one of the two seven-figure losses in the quarter. The crime with the highest loss value in Q1, 2018 was the loss of car parts from a truck while it was en-route in Romania, which reported a loss value of €2,017,440. Year-on-year analysis for recorded incidents shows 382 cargo crimes in the United Kingdom in Q1 2018, 57 crimes in the Netherlands, 34 incidents in Sweden. An overview of how extensive cargo theft is across the United States can be visualized in the graphic below from Cargonet. ![]() The firm adds that 98 trucks and 119 trailers were reported stolen during the quarter. As per Sensitech and Cargonet joint report from 2018, quarter 1, a total of 159 cargo theft events have been recorded in the U.S. The average loss value recorded per incident was $254,800, with food and beverage being the most targeted. Summing the general results, Cargo theft is a $15 to $30 billion-dollar problem each year in the United States. electronics items, food and beverages make up the largest share of overall stolen cargo value followed by household goods, and building materials. The shortest answer is everywhere! According to CargoNet’s recent report, consumable goods for e.g. ![]() Volatility in the economy, fluctuating commodity prices, and increased economic crisis worldwide demand for black market goods and hence the increase of cargo theft. Today, the supply base of many companies has become global, more outsourced and interconnected than ever before. In our global ever-expanding economy, supply chains are often spread across countries, regions and continents. This could also include physical theft or cyber theft or documentation fraud, where the ownership, destination, or contents of a cargo shipment is altered. This presents a unique and difficult challenge to manufacturers, suppliers, terminal operators, third-party logistics providers, and logistics & transportation providers. The products moving between the point of origin and the final destination are being exposed to exploitation by creative and highly motivated theft gangs. Cargo Theft is defined as the criminal taking of any cargo as the products pass through the global supply chain. ![]()
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