Inside
this issue:
CBP updates 301 bond form
New bill proposed to fight fraud in trucking
Ways to
red-flag fraud, by Andrew Spector, Esq.
New report
identifies cargo theft trends
China
proposes increase in FMC optional bond rider
Updates on liquidated damages for Periodic Monthly Statement
CBP updates mitigation guidelines for
advance cargo information violations
U.S. government urges companies to
strengthen Internet security
Trucking
associations ask NHTSA to examine truck crashworthiness
standards
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New report identifies cargo
theft trends
In
a new report, the National Insurance Crime Bureau (NICB)
identified 747 incidents of cargo theft in 2010, totaling
more than $171 million.
California topped the nation with 247 theft incidents,
followed by Texas with 91, Florida at 66, Illinois at 56,
Tennessee with 40 and Georgia at 39. The NICB noted that
major cities such as Los Angeles, Dallas, Memphis, Chicago
and Atlanta have extensive cargo and transportation
facilities, which provides thieves with easy access to large
amounts of cargo.
Electronics, food and clothing were the top three
commodities stolen in 2010. In comparison to other organized
crimes, thieves view cargo theft as “low-risk,” the NICB
said. There’s also a potential for high profits, since most
goods can be resold online, at flea markets and overseas.
According to the NICB’s report, most thefts happen within
200 miles or four hours of the driver’s starting point.
Criminals follow drivers and steal the cargo within five
minutes after the driver stops. Another growing trend is
fraudulent pickups, where thieves access load information
online, impersonate a legitimate carrier and secure a
contract for transport. After the goods are stolen, the
fraudulent driver and fake trucking company disappear.
The NICB provided several tips to help reduce cargo
theft, such as pre-employment screening, personnel training,
obtaining in-transit security and periodic supply chain
audits.
Logistics providers should consider obtaining Cargo
Insurance to protect goods while in transit. Educating
customers on the risks of cargo theft and the benefits of
Cargo Insurance help provide peace of mind, and your
customers will know their goods are covered with
industry-leading protection. Avalon’s comprehensive policy
also includes coverage for theft and/or hijacking of an entire load.
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