Frank Matarazzo, Owner and CEO of Fusion Transport, envisions a “Cargo Theft Playbook” for vendors, retailers, and trucking companies to follow in order to win the game against an increasingly clever network of organized criminals. It’s time to take an offensive stance against a relentless adversary and fortify all defenses.
RUTHERFORD, N.J., Aug. 6, 2024 /PRNewswire-PRWeb/ — A recent report suggests that cargo theft in the first quarter of 2024 increased 46% from the same period in 2023, with 925 reported incidents resulting in an estimated total loss of nearly $155 million. The top three targeted states are Texas (22% increase), California (72% increase), and Illinois (126% increase), with thieves zeroing in on high-value commodities like small appliances, liquor, and copper. (1) These thefts, ranging from complex fraud schemes to straightforward cargo thefts, highlight the urgency for enhanced offensive and defensive measures. Frank Matarazzo, owner and CEO of Fusion Transport, observes, “The sophistication of these thefts is alarming. Criminals are using advanced techniques like ‘strategic theft,’ where they impersonate brokers and carriers, rerouting freight to themselves. This kind of ingenuity requires a multifaceted response.”
“Instituting a cargo theft playbook will strengthen our industry’s defenses against the growing sophistication and ingenuity of today’s cargo thieves.” — Frank Matarazzo, CEO of Fusion Transport
The theft of high-value goods like solar panels, energy drinks, and virtual reality headsets results in millions of dollars in losses. Cargo theft is becoming more strategic and high-tech. Fictitious pickups are one strategy where criminals manipulate legitimate documents and pose as authorized truck drivers. International cargo theft rings are stealing freight virtually without having to be physically on-site. Most shipments are arranged via load boards, which are online freight-matching services that can facilitate identity theft. (2)
The National Retail Federation (NRF) notes that thieves are not limiting themselves to high-priced targets like electronics and pharmaceuticals; they are going after a broader range of products, including food and beverages, as long as they can make a profit. The NRF encourages partnerships between retailers, transportation groups, and law enforcement. (3)
In June 2024, Congressman David Valadao (R-CA) introduced the Safeguarding Our Supply Chains Act with support from the American Trucking Associations (ATA). This bill proposes the creation of a Supply Chain Fraud and Theft Task Force led by Homeland Security Investigations (HSI) in collaboration with the FBI and the U.S. Attorney General. The task force will focus on addressing theft and fraud across rail, motor carrier, and intermodal systems, with a dedicated Supply Chain Crime Coordination Center for data analysis and crime detection. The legislation authorizes $100 million in funding over five years, aspiring to strengthen cooperation among motor carriers, law enforcement, and the government. (4)
From High Tech Solutions to Rigorous Vetting: The Ultimate Cargo Theft Playbook
Matarazzo insists that every driver and every truck must be verified. “You have to stop it before it starts,” he explains.
A possible way to achieve this is by cross-referencing the driver and truck VIN against the insurance policy. “When were the driver and the equipment added to the policy? If they were just added yesterday, that raises a red flag”, Matarazzo points out. “You need to ensure the company’s operating authority is legitimate and has not undergone suspicious ownership changes”.
To tackle this escalating problem, Matarazzo proposes a “Cargo Theft Playbook” that outlines several critical measures:
1. Real-Time Tracking: Implementing state-of-the-art GPS tracking systems allows for continuous monitoring of shipments, ensuring immediate detection of unauthorized route deviations.
2. Rigorous Vetting: Thoroughly vetting all cargo partners is essential. This includes verifying identities, checking backgrounds, and confirming the legitimacy of business practices to prevent fraudulent actors from infiltrating the supply chain.
3. Advanced Security Technologies: Utilizing advanced security measures such as tamper-evident seals, smart locks, and biometric verification can significantly enhance shipment security.
4. Continuous Staff Training: Provide ongoing training programs on the latest security protocols and fraud detection techniques. Ensuring that all employees are well-informed and vigilant helps identify potential threats early.
5. Multi-Layered Security Approach: Combining various security measures creates a resilient defense against theft:
Tailored Security Procedures: Develop customized security protocols based on the type of goods and their value.Technology Integration: Employ tools like identification scanners and thorough photographic documentation of shipments.Human Oversight: Ensure continuous in-person monitoring to help recognize red flags that automated systems might miss.
As a leader in tech-driven freight management solutions, Fusion Transport continues to advocate for stronger communication, cooperation, and cross-functional strategies to coalesce all players in the game in their fight against a common foe. –
Matarazzo asserts, “Instituting a cargo theft playbook will strengthen our industry’s defenses against the growing sophistication and ingenuity of today’s cargo thieves. Outlining concrete prevention measures like real-time tracking, rigorous vetting, advanced security technologies, continuous staff training, and strong law enforcement partnerships ensures all stakeholders are well-prepared and coordinated in their efforts to create a united front against a growing criminal enterprise.”
About Fusion Transport
Freight industry visionary Frank Matarazzo responded to the complex challenges of shipping logistics, consumer demands, and the need for advanced supply chain solutions by creating Fusion Transport. Emerging from two third-party logistics brokerages and based in Rutherford, NJ, Fusion Transport has become a pivotal force in retail consolidation and is now a leader in technology-driven freight management solutions. With over 40 years of expertise, the company is revolutionizing the North American less-than-truckload (LTL) network through a technology-based approach that not only meets market demands but also reduces the inefficiencies typically seen in traditional LTL carrier networks. This innovative strategy offers a more streamlined and cost-effective option for shipping merchandise in LTL quantities across the country, epitomizing the disruptive, customer-focused ethos of Fusion Transport. For more information, visit their website at https://www.fusiontransport.com/.
References:
1. “2024 First Quarter Supply Chain Risk Trends Analysis.” CargoNet, cargonet.com/news-and-events/cargonet-in-the-media/2024-q1-theft-trends/. Accessed 30 July 2024.
2. “Cargo Theft Rates Surge as Criminals Go High-Tech.” Business Insurance, businessinsurance.com/article/20240625/NEWS06/912365205/Cargo-theft-rates-surge-as-criminals-go-high-tech. Accessed 30 July 2024.
3. Jonathan Gold VP, et al. “Cargo Theft Trends and Lessons Learned.” NRF, 8 July 2024, nrf.com/blog/cargo-theft-trends-and-lessons-learned.
4. “Ata Applauds Introduction of Bill to Fight Cargo Theft.” American Trucking Associations, trucking.org/news-insights/ata-applauds-introduction-bill-fight-cargo-theft. Accessed 30 July 2024.
Media Inquiries:
Karla Jo Helms
JOTO PR™
727-777-4619
jotopr.com
Media Contact
Karla Jo Helms, JOTO PR™, 727-777-4629, khelms@jotopr.com, jotopr.com
View original content to download multimedia:https://www.prweb.com/releases/fusion-transport-drafts-the-cargo-theft-playbook-for-the-shipping-industry-302215132.html
SOURCE Fusion Transport
Near Videos5 days ago
Coin Market5 days ago
Coin Market4 days ago
Technology5 days ago