An alarming rise in cargo theft and freight fraud across global supply chains is being highlighted by the International Union of Marine Insurance (IUMI) and the Transported Asset Protection Association (TAPA) EMEA, with incidents escalating across Europe, the Americas and Africa.
Latin America and several African nations are experiencing particularly severe and violent attacks, said the duo in its report.
The IUMI is a non-profit association established for the purpose of protecting, safeguarding and advancing insurers‘ interests in marine and all types of transport insurance.
It also provides an essential forum to discuss and exchange ideas, information and statistics of common interest for marine underwriters and in exchange with other marine professionals.
IUMI currently represents 42 national and marine market insurance and reinsurance associations.
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.
While traditional threats such as hijackings and theft remain a problem, both organisations warn that cargo crime is rapidly becoming more sophisticated and digitally enabled.
Thorsten Neumann, President & CEO of TAPA Europe Middle East and Africa, said: "Although conventional theft from trucks and warehouses are still prevalent, cargo crime is evolving. We are seeing criminals using digital tools to conceal their true identities, the creation of shell companies and legitimate firms being cloned using stolen credentials."
Set up in 1997, TAPA's main objective is to help manufacturers/shippers and their logistics service providers minimise losses from their supply chains resulting from cargo thefts.
"Forged email addresses, look-alike domains and fake insurance certificates are increasingly common. Our concern is that artificial intelligence will accelerate these activities, making deception easier to scale and significantly driving up losses," he stated.
In response to these growing risks, IUMI and TAPA EMEA are calling for urgent action by supply chain stakeholders and government authorities.
The organisations have jointly published advice for shippers, logistics providers and insurers 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 recognised security and operational standards; increased vigilance for abnormal behaviour; and greater use of secure facilities and route planning.
Lars Lange, Secretary General of IUMI, said: "A crucial element in the fight against cargo fraud are freight exchange platforms. They have a key responsibility to ensure no bogus carriers can operate on these platforms."
"IUMI and TAPA EMEA encourage these platforms to implement robust identity verification and fraud detection protocols, including multifactor authentication. Their support and cooperation is essential to closing loopholes which are increasingly being exploited by fake carriers," he added.-TradeArabia News Service
