"After nearly four decades of working in logistics, I can say with certainty: The scale and sophistication of today's cargo theft is unlike anything our industry has faced before."
"By the time the theft is discovered, the freight has often vanished into a black market that stretches far beyond state or even national borders."
"Cargo theft costs the industry as much as $6.6 billion a year, or more than $18 million every day."
"Whilst we appreciate the criminals' exceptional taste, the fact remains that cargo theft is an escalating issue for businesses of all sizes."
Cargo theft is increasingly threatening the U.S. supply chain, with organized criminal networks executing sophisticated heists. Major thefts include electronics worth over $15 million and daily essentials like food. Thieves utilize technology to impersonate legitimate entities and create fraudulent documents. The American Transportation Research Institute estimates cargo theft costs the industry $6.6 billion annually. The impact extends beyond the U.S., affecting businesses globally, as seen in the theft of 12 tons of KitKat bars in Europe. Consumers face higher prices due to these thefts.
Read at Fortune
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