Disruptions through the global supply chain continue to create opportunities for criminals to infiltrate and access cargo, said TT Club in the second edition of its Supply Chain Security Bulletin.
According to the bulleting, the high levels of disruption can create opportunities for those with criminal intent. Commenting on the latest publication, Mike Yarwood, TT’s Managing Director, Loss Prevention said:
The risk landscape is constantly evolving; the criminal organisations providing the threat are getting ever more sophisticated
The 2022 year to date, TT claims data highlight the preponderance of electrical goods as targets globally, with the US reporting over 70% of these losses. The split in general between theft from vehicles and depots is in the order of two-thirds versus one-third. This is a consistent finding; though vehicles ‘at rest’ as opposed to hi-jackings are more prevalent targets.
In addition, the threat posed by the insider continues to present challenges. TT’s analysis for 2022 suggests that around 23% of reported cargo thefts likely involved insider activity, whether it is in facilitating intricate knowledge of systems and security provisions or simply allowing access to criminals.
Digital solutions to enhance the free-flow of goods within a disruptive supply chain environment, however well designed, is a further trend which can give rise to internet-enabled fraud. Computer generated access is creating opportunities to steal cargo through seemingly legitimate transactions.
At this time, it would be prudent for those throughout the international supply chain to heighten their levels of awareness and increase their vigilance when carrying out financial transactions
Mr. Yarwood highlighted.
Finally, TT Club also sheds light at the power of social media as a means of investigation, also analyzing the threat imposed by fake carriers in Europe and a special focus on theft in Papua New Guinea.
FIND MORE AT tt club’s bulletin
