Supply chain logjams increase cargo theft risk

Supply chain congestion is increasing the time cargo sits idle during its journey and is increasing the risk of theft, according to a report for 2021 from transport and logistics insurer, TT Club and global provider of supply chain intelligence, BSI.

Mike Yarwood, managing director, loss prevention at TT Club, said: “Criminals are quick to adapt to prevailing conditions and have swiftly responded to the increased opportunities that supply chain congestion presents through the amount of cargo laying idle.”

Thorsten Neumann, president and CEO, of the Transported Asset Protection Association’s Europe, Middle East and Africa region, added: “What we are seeing in EMEA is a heightened level of risk to virtually all types of goods moving in supply chains across our region.

“This comes from increasingly active and sophisticated organised crime groups which often regard supply chains as an easy and lucrative target. Sadly, too many companies wait to seek solutions until they become a victim of a cargo crime but, by then, they will have suffered a significant financial and reputational loss.”

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