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Cargo theft: Connecting the links

Cargo theft: Connecting the links

"We’re starting to see fake emails as part of fictitious pickup scams. [They use] legitimate-looking carrier information to change arrival times to allow thieves to steal specific loads. Cargo thieves use information to disguise what they are doing as well as to get around defenses carriers and shippers establish to thwart them.” - Scott Cornell, director of the Specialty Investigations Group (SIG) within the Inland Marine division at Travelers Insurance

Cargo theft is a booming business for thieves. According to the FBI, it is a $35 billion to $40 billion problem in the U.S. The most stolen commodities—food and beverages—accounted for 22% of all cargo thefts in 2014, reports CargoNet, a theft database and information provider. The firm also notes that the average loss value of pharmaceuticals increased by more than 23% in 2014.

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