Tag: cargo theft

Cargo Theft’s Celebrity Moment: What the Tequila Heist Really Says About Freight Security

Posted on | by Banyan Technology
Combat Cargo Theft through Identity, Process and Culture

When a million dollars of tequila vanished from a California warehouse, the world finally paid attention. But for those in logistics, this wasn’t a new phenomenon … it was a familiar warning shot.

According to industry veteran Michael Caney, “Fraud needs three things to thrive: anonymity, urgency and the prospect of gain.” That formula has been powering cargo theft long before celebrities got involved. Whether it’s liquor, electronics or high-demand holiday goods like LEGO sets, organized fraud networks know exactly how to exploit the pressure points in the supply chain.

The problem is no longer isolated or opportunistic. It’s systemic and it’s getting smarter.

AI on the Offense: Preventing the Top 5 Freight Risks at the Source

Posted on | by Banyan Technology
How to Prevent Freight Risks at the Source

Shippers and 3PLs are grappling with rising threats — from cargo theft and freight fraud driven by bad actors to ongoing operational risks like load damage and product spoilage — all of which take a toll on the bottom line.

As supply chains scale and diversify, traditional detection methods can't keep pace. Enter artificial intelligence (AI). Not as a buzzword but as a frontline ally in a growing arms race against freight risk.

“As the logistics landscape grows more complex, we’re seeing AI not just as a tool but as a strategic shield against emerging threats,” said Jonathan Ryan, Chief Product & Technology Officer at Overhaul.

Strategies for Reducing Cargo Theft with Automated Risk Management

Posted on | by Banyan Technology
Reduce Cargo Theft with Automated Risk Management

It’s no secret that cargo theft is a growing problem across North America, with incidents increasing by 27% in 2024 alone, leading to nearly $455 million in reported losses. Organized crime groups are becoming more sophisticated, using identity theft, double-brokering schemes and fictitious pickups to steal high-value shipments. The best way to combat this is for Shippers and 3PLs to implement automated risk management solutions that enhance security, improve visibility and mitigate financial losses.