The International Union of Marine Insurance (IUMI) and the Transported Asset Protection Association (TAPA) EMEA are sounding the alarm on a significant increase in cargo theft and freight fraud globally. This alarming trend is not only affecting Europe, the Americas, and Africa but also Latin America and several African nations are experiencing particularly severe and violent attacks.
According to TAPA's intelligence system, nearly 160,000 cargo-related crimes were recorded across 129 countries between 2022 and 2024, with total losses estimated to reach several billions of Euros. The sophistication and digital enablement of these threats are becoming more pronounced, making it imperative for supply chain stakeholders and government authorities to take urgent action.
IUMI and TAPA EMEA have jointly published advice aimed at strengthening resilience against both physical and digital threats. Recommendations include continuous vetting of carriers and drivers; verification of contacts, documentation, and insurance credentials; adherence to recognized security and operational standards; increased vigilance for abnormal behavior; and greater use of secure facilities and route planning.
The rise in cargo theft and freight fraud highlights the need for a collaborative approach to mitigate these risks and ensure the integrity of global supply chains.