5 Tactics Cargo Thieves Use and How to Help Prevent Them
5 Tactics Cargo Thieves Use and How to Help Prevent Them
Technology continues to transform cargo theft, as companies work to stay one step ahead of highly strategic cargo heists, from creating fraudulent companies to arranging for fictitious pickups. Being aware of current theft tactics can help companies more effectively protect their cargo and prevent interruptions to their supply chains.
“The thieves that commit cargo theft today are not like cargo thieves of less than five years ago,” said Kirk Rider, Director of Ocean Marine Risk Control at Travelers. “They are more likely to leverage technology to exploit very small gaps in even some of the best cargo theft prevention programs.”
While an overall tightening of the supply chain around high-value and desired products reportedly led to a 6 percent drop in cargo theft in 2015, the FreightWatch International Supply Chain Intelligence Center considers the threat in the United States to be on the rise, as cargo thieves continue to adapt to new security procedures.1
Knowing the tactics that cargo thieves use can help businesses recognize their unique vulnerabilities and prevent potential cargo theft, according to Travelers Investigative Services Specialty Investigations Group (SIG).
Identity Theft
Just as cyber thieves are stealing identities online, cargo thieves are using technology to have greater insight into supply chains, as cargo gets passed from intermediary to intermediary. Cargo identity thieves may use a legitimate trucking carrier’s name to arrange to haul a specific load for a customer, and then disappear with the load. The thefts can be months in planning, with thieves involved throughout the contracting and load planning process.
Fictitious Pickups
Other cargo thieves take a more opportunistic approach. A legitimate carrier has agreed to transport the load. Cargo thieves briefly disguise themselves as the legitimate carrier…”
Continue reading this Travelers blog article to help protect your business.
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