The transport and logistic insurer TT Club along with the global provider BSI issued the “Cargo Theft Report 2020” highlighting the impact of cargo theft on the global supply chain, while giving its recommendations of how theft risks can be reduced.
The Transported Asset Protection Association’s (TAPA) Incident Information Service (IIS) issued a report informing of the cargo theft issue which saw an increase in the first nine months of 2019 in supply chains in the Europe, Middle East and Africa (EMEA) region.
Cargo theft is a global challenge with a major negative impact on supply chains and the world’s economy. To put this into context, cargo crime has costed an estimated US$22.6 billion in 2015, while the top five natural disasters costed a collective $33 billion, research has indicated.
