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Cargo theft – an international issue in the supply chain

Maritime Risk International

Cargo theft – an international issue in the supply chain

Peregrine Storrs-Fox, of the TT Club, looks at trends in cargo theft in the freight supply chain

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 among the top five claims causes, accounting for 11.4 per cent by number and just under 10 per cent by value in the latest rolling five-year analysis. Criminal organisations continue to advance technologically, refining their means of deception. From cargo scams to falsified insurance certificates, the returns continue to provide sufficient motivation. While focus has recently tended towards cyber crime, case studies abound for the more traditional vulnerabilities, even if potentially aided by electronic means.

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