June 29, 2022 | Cargo Insurance | Jason Palumbo
A Review of Cargo Crime in 2021
In 2021, the evolving supply chain landscape, characterized by a pandemic, an opening up of the economy, and shifting cargo crime, cumulatively forced companies to solidify their ability to adapt to new challenges. As goods travel through global trade hubs, like Los Angeles and Yantian, they are susceptible to a variety of cargo crime risks, including theft, insider participation, fictitious pickups, pilferage, and counterfeiting, to name a few.
As global trade rebounds and freight rates stifle, volume increases, adding yet another layer of risk to companies transporting goods throughout last year and carrying into 2022.
In this report, BSI and Roanoke collectively evaluate cargo theft threats in 2021, comparing these to what was seen in 2020 and highlight key mitigation techniques that organizations can implement to mitigate these emerging risks.