With holidays approaching, companies warned to guard against cargo theft

LOS ANGELES, CA -- Law enforcement and insurance industry officials estimate that the shipping industry loses $30 billion each year to theft, with most incidents occurring in the 4th quarter. A California risk management firm notes that their state has the highest cargo theft rate in the nation.

"Over the past decade, cargo theft has risen dramatically but it's never been as high as it is now," says George Ramos, Jr., of Diversified Risk Management, Inc. Ramos says that most incidents are inside jobs. "It's very rare for hijackers or burglars to approach a truck without already knowing what's on board." 

Typical targets of theft include recyclable metals, pharmaceuticals, consumer electronics, clothing, building supplies, cigarettes, and food.

The FBI issued an alert last week on this growing crime.

From Marketwire and Diversified Risk Management