Executive Briefings

Cargo Thieves Lovable Rogues? Hardly.

Some of the stories sound like they came straight out of a Hollywood crime drama--think "Goodfellas" or even "The French Connection." The bad guys are sophisticated (and some not-so-sophisticated) criminals targeting billions of dollars worth of goods to sell on the black market. The plots take place all over the world--from bands of thieves in Latin America to pirates off the coast of Indonesia to sneaky crooks hiding out near truck stops, warehouses and ports throughout the United States.
Though portrayed in the movies as lovable rogues, for manufacturers trying to move their products throughout the supply chain, these wrongdoers are much more than a mere thorn in their sides--in some cases, they pose a threat to a company's very existence. According to the Federal Bureau of Investigation, cargo theft costs the United States $15bn to $30bn annually. Worldwide, cargo theft accounts for approximately $50bn in direct merchandise losses, reports FreightWatch Group Ltd., an international logistics security agency. And the problem isn't expected to lessen any as more high-value goods move through global supply chains.
Source: Industry Week, http://industryweek.com

Some of the stories sound like they came straight out of a Hollywood crime drama--think "Goodfellas" or even "The French Connection." The bad guys are sophisticated (and some not-so-sophisticated) criminals targeting billions of dollars worth of goods to sell on the black market. The plots take place all over the world--from bands of thieves in Latin America to pirates off the coast of Indonesia to sneaky crooks hiding out near truck stops, warehouses and ports throughout the United States.
Though portrayed in the movies as lovable rogues, for manufacturers trying to move their products throughout the supply chain, these wrongdoers are much more than a mere thorn in their sides--in some cases, they pose a threat to a company's very existence. According to the Federal Bureau of Investigation, cargo theft costs the United States $15bn to $30bn annually. Worldwide, cargo theft accounts for approximately $50bn in direct merchandise losses, reports FreightWatch Group Ltd., an international logistics security agency. And the problem isn't expected to lessen any as more high-value goods move through global supply chains.
Source: Industry Week, http://industryweek.com