You may have seen a news story doing the rounds this week about a commodities trader who fell victim to cargo fraud after purchasing 10,000 tonnes of copper blister worth £26 million – which, upon arrival, were found to be painted stones instead.
According to the BBC, Mercuria Energy Group had agreed to purchase the copper blister for delivery to China, with around 6,000 tonnes loaded for shipment in over 300 containers on eight vessels. But before it left a port near Istanbul, the material was swapped for paving stones that had been spray painted to look like the semi-refined metal.
Unfortunately, cargo theft can take place at any point during the shipment process, so it’s essential that you do all you can to protect yourself and your investments against this kind of fraud.
Tracking technology is one strategy you can employ to help safeguard against incidents of this kind. You could, for example, use GPS on freight containers to help identify cargo theft along delivery routes. This can also prove useful if cargo is stolen, making it easier for authorities to locate it.
Securing your warehouse can also be beneficial, with measures including surveillance cameras, good lighting, controlled access, security audits and so on.
Also make sure that you only work with reputable companies and that you verify any and all information you’re given when working with new couriers. If you find you’re being given really low rates or vague information, chances are that they’re not above board.
And prioritise cyber security, as well, since phishing emails can be used to help criminals commit cargo theft, with malware installed on your system that enables them to gain access to data such as pickup and delivery information.
For help with freight logistics solutions, get in touch with Roxy Fast Freight today.