"There are all sorts of costs associated with cargo theft," Cornell says, which makes exact figures difficult to pin down. "How much did 'company A' lose by not having those items in a given week when their competition did? "Is it just the cost of the TVs on a trailer that were stolen, for example, or is it that cost and the cost of replacing them - manufacturing them again, reshipping them, the value the store lost by not having TVs on its shelves?" he notes.
Why such a range? Cargo theft is often reported under various crime codes, Cornell explains, and there's debate about how you tally it up. The FBI places the annual economic toll cargo theft takes somewhere in the range of $15-$30 billion, he adds, depending on how you count, which is more than auto theft or all employee theft at the workplace. "It's a much bigger cost than people realize," Cornell says. The scope of cargo theft in the United States is broad and extensive. Fleet Owner caught up with Travelers transportation crime and theft specialist Scott Cornell to hear the latest on cargo theft - and five reasons why it has many in the freight and distribution business concerned. For the first time, insurer Travelers brought its Sting Trailer crime-busting tool to the American Trucking Assns.' safety, security and human resources gathering last week and gave attendees tours.
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