Thanksgiving cargo theft surge highlights supply chain
CargoNet analysis shows the risk of cargo theft rises sharply during the Thanksgiving holiday as organized criminal networks exploit vulnerabilities in supply chains. Over the past five years, a total of 174 major thefts have been recorded in the six days from the Tuesday before Thanksgiving to the following Monday. Also Read: Artificial Intelligence: The driving force behind logistics for the 2024 holiday season The Monday after Thanksgiving is a peak time for criminal activity, along with a spike in identity fraud complaints. CargoNet attributes the trend to extended holiday closures and reduced vigilance across the industry, creating opportunities for theft. Hotspots for cargo theft include San Bernardino and Los Angeles counties in California, and Cook County in Illinois. Criminals often target semi-tractors, trailers and high-value goods such as various freight, liquor and vehicle accessories such as tires and oil. These thefts are often coordinated through complex networks with ties to black market buyers. Identity fraud is also developing as…
TIA report shows freight industry fraud crisis growing
The Transport Intermediaries Association (TIA) has released its 2024 State of the Industry Fraud Report, revealing the growing threat of fraud in the transport and logistics industry. The report provides a comprehensive analysis of financial losses and highlights the urgent need for stronger protection measures as fraud continues to surge throughout the supply chain. See also: Maintaining a secure supply chain: Responding to a surge in fraud and cargo theft “Our industry is suffering, and authorities are not giving us enough support to deal with this crisis,” said Anne Reinke, president and CEO of TIA. “Fraud in the supply chain not only affects businesses, but also consumers and the economy as a whole. This is a multi-million dollar problem that requires immediate action.” The report, based on responses from 200 TIA members, details the most common types of fraud, regional hotspots and the products most often targeted. It also highlights the heavy financial burden that fraud places on businesses and…
TIA report shows freight industry fraud crisis growing
The Transport Intermediaries Association (TIA) has released its 2024 State of the Industry Fraud Report, revealing the growing threat of fraud in the transport and logistics industry. The report provides a comprehensive analysis of financial losses and highlights the urgent need for stronger protection measures as fraud continues to surge throughout the supply chain. See also: Maintaining a secure supply chain: Responding to a surge in fraud and cargo theft “Our industry is suffering, and authorities are not giving us enough support to deal with this crisis,” said Anne Reinke, president and CEO of TIA. “Fraud in the supply chain not only affects businesses, but also consumers and the economy as a whole. This is a multi-million dollar problem that requires immediate action.” The report, based on responses from 200 TIA members, details the most common types of fraud, regional hotspots and the products most often targeted. It also highlights the heavy financial burden that fraud places on businesses and…
How cargo theft creates problems for global supply chains:
Theft has always been a hindrance to the supply chain. Despite the security measures put in place to stop theft, cargo theft is still rampant today. Some of the consequences include damaged reputation, financial losses, insufficient inventory and production, and increased planning and resources. See also: Maintaining Supply Chain Security: Responding to a Surge in Fraud and Cargo Theft Logistics professionals must fully understand how fleets are attacked and how to prevent theft. Here are some important things they should consider. Reputation issues Reputation is always a top concern for businesses. Cargo theft may initially seem unrelated to a company’s image, but it is. When an outsider steals a consumer’s package while in transit, they don’t blame the thief. People assume that the fault lies with the company for failing to secure the package before it reaches its destination. Most customers may not be aware of this breach, which could lead them to assume the shipping company is responsible for…
Explore the latest exhibition information and industry trends at ASAP Expo Magazine. Your one-stop platform, bringing together global exhibition highlights, industry trends and in-depth analysis, to help companies accurately connect with the market and seize business opportunities.
