8 November, 2018 - First edition of a new regular report reveals violent truck hijackings account for 24% of cargo theft incidents globally; food and beverage sector most targeted at 27%. Other detailed trends and risk mitigation advice included
BSI Supply Chain Services and Solutions and leading international transport and logistics insurer, TT Club launch the first joint 2018 Semi-Annual Global Cargo Theft Intelligence and Advisory Report. The report brings together threat and intelligence data from BSI’s supply chain security country risk intelligence tool, SCREEN and TT Club’s insurance underwriting risk insights.
Several key findings from the TT Club/BSI report highlight the severity with which cargo theft has impact on global supply chains. As highlighted in the report, the Food and Beverage sector suffers from the highest rates of cargo crime across the globe, accounting for 27 percent of all incidents; whilst Consumer Products and Hi-Tech Electronics industries suffer high rates of cargo theft as well. The trucking modality is the most often targeted modality for cargo crime across the globe, attributed to over 75% of all cargo theft incidents, with warehousing being the second most vulnerable target 19 percent.
BSI and TT Club have authored this report to demonstrate their shared goal of educating the transportation and manufacturing sectors about the dynamic cargo theft risks present across the globe. With the enhanced awareness of cargo crime trends across the globe, industry will be able to engage in a proactive approach in preventing cargo crime and also minimizing the financial loss and brand reputation damage that results from cargo crime.
The report highlights key risk insights into the trends in the following cargo disruption-related topics, including:
- Regional Breakdown
- Countries of concern
- Tactics and Trends
- Targeted Modalities
- Targeted Commodities
- Top Locations of Thefts
- Prevalence of hijackings
- Incident Highlight and Analysis article
Furthermore, the report includes several pieces of risk mitigation advice to counter the identified threats presented in the report. The risk mitigation advisory sections will be co-authored by BSI’s Advisory Supply Chain Security team and the TT Club’s Claims and Risk Control team.
To download the BSI/TT Club Semi-Annual Global Cargo Theft Intelligence Report –2018, please click on this link- https://page.bsigroup.com/BSI-TT-Club-Cargo-Theft-H1
About TT Club
TT Club is the international transport and logistics industry's leading provider of insurance and related risk management services. Established in 1968, the Club's membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the Club exists to provide its policyholders with benefits, which include specialist underwriting expertise, a world-wide office network providing claims management services, and first class risk management and loss prevention advice.
TT Club is managed by Thomas Miller.
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BSI is the business improvement company that enables organizations to turn standards of best practice into habits of excellence. For over a century BSI has championed what good looks like and driven best practice in organizations around the world. Working with over 86,000 clients across 193 countries, it is a truly international business with skills and experience across a number of sectors including automotive, aerospace, built environment, food, and healthcare. Through its expertise in Standards Development and Knowledge Solutions, Assurance and Professional Services, BSI improves business performance to help clients grow sustainably, manage risk and ultimately be more resilient.
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About BSI Supply Chain Services and Solutions
BSI Supply Chain Services and Solutions is the leading global provider of supply chain intelligence, auditing services, audit compliance and risk management software solutions, and advisory services. Our mission is to help corporations, governments and associations identify, manage and mitigate global supply chain risks and maintain world class governance risk and compliance programs. Our holistic supply chain risk management suite is designed to predict and visualize risk, and develop robust risk mitigation and compliance management programs to protect your supply chain, brand and reputation. Our intelligence-infused supply chain solutions and global network empower our clients to understand global supply chain risk with unequaled precision.
To learn more, please visit www.bsi-supplychain.com