Dive Brief:
- The "insider threat" is the latest emerging risk to cargo theft, according to a report released this week from BSI and insurance provider TT Club. The report described an insider as a full-time or part-time employee, a contractor or a business partner.
- In North America, food and beverages made up one-third of the commodities stolen in 2018, followed by consumer products (19%).
- Globally, the majority (84%) of cargo is stolen from trucks. This includes theft of the container, the vehicle or items from the container. Theft from warehouses and facilities made up 13% of total cargo thefts last year.
Dive Insight:
Although the number of cargo thefts fell 19% between 2017 and 2018, the high costs of thefts can keep shippers on high alert to better secure their goods.
Recovery costs from a cargo theft amount to far more than just the cost of the cargo — 10 times the cost of goods stolen, according to a study from CargoNet. Shippers must reimport the shipment and often rush it using air freight, Sal Marino, vice president of business development and logistics services at CargoNet, previously told Supply Chain Dive.
Inventory and fleet tracking technologies, such as RFID and GPS, have equipped shippers with real-time data and visibility on their shipments, giving them the ability to react quickly if an item goes missing.
But the efforts to protect cargo will prove futile if a theft is the result of an inside job, a risk BSI and TT Club identified as a "common vulnerability." The analysis did not specify how many thefts were the result of an insider threat in 2018, but did say 88% of insider acts involved permanent staff, and the main motivator was financial gain.
The report recommends organizations develop management strategies and policies that reduce the risk of recruiting staff who could present such a concern and implement the necessary security measures for existing staff. Examples include evaluating access to systems, data and ID badges and awareness training for all employees.
