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Scott Cornell - 1 Keith Lewis - 1 we're - 1 Ron - 1 they're - 1 Barry Conlon - 1 Cornell Scott - 1
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Travelers - 1 CNBC - 1 Cargo - 1 Cornell - 1 Cornell Scott Cornell - 1 Transportation - 1

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☆ Cargo theft spiked over 57% in 2023 vs. 2022, new data shows
  + stars: | 2024-01-22 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com   time to read: +1 min
Cargo theft incidents were up more than 57% in 2023 compared with the year prior, according to CargoNet, a Verisk company. I haven't seen cargo theft at this level," Scott Cornell, the national practice transportation lead at Travelers, told CNBC. Nearly $130 million worth of goods was stolen in 2023, but since reporting cargo theft is not mandatory, the amount is likely higher than this, according to CargoNet. "Now, we're probably taking in about 220 plus a month of cargo theft events." Cargo theft refers to goods being stolen at any point in the transportation journey and incidents have reached unprecedented levels.
Persons: Scott Cornell, Keith Lewis, we're, Ron, they're, Barry Conlon Organizations: Travelers, CNBC, Cargo Locations: CargoNet, California , Texas, Florida, Louisville , Kentucky
☆ Supply chain modernization has helped strategic cargo thieves excel, says Travelers' Cornell
  + stars: | 2023-06-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSupply chain modernization has helped strategic cargo thieves excel, says Travelers' CornellScott Cornell, Transportation lead and crime and theft specialist at Travelers, joins 'The Exchange' to discuss how big of a deal retail theft is, why strategic cargo theft has surged, and more.
Persons: Cornell Scott Organizations: Cornell, Cornell Scott Cornell, Transportation
☆ 'It's not people shoplifting': Why retail is focused on organized crime
  + stars: | 2023-05-18 | by ( Eric Rosenbaum | ) www.cnbc.com   time to read: +4 min
watch nowIt's been hard to get an exact read on the rise in retail theft. But this quarter's batch of retail earnings have brought the theft issue to the forefront again. Target said organized retail crime will reach $500 million more in stolen and lost merchandise this year compared with a year ago. The National Retail Federation says organized retail crime is the main reason for retail "shrink" — a mismatch between actual inventory and what is on the books — which reached $94.5 billion in 2021, an increase of almost $4 billion year over year. But shoplifting is a big part of organized crime.
☆ Cargo theft, led by food and beverage, is surging across the US
  + stars: | 2023-03-25 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +3 min
1 on the list of products being targeted by freight thieves who are increasing their criminal activity across the national supply chain. While household goods and electronics are still high on the list of cargo thieves, "Now, we're starting to see food and beverage commodities pull up front," Cornell said. Zoom In Icon Arrows pointing outwardsAccording to CargoNet's latest theft report through February, there was an almost 50% increase year over year in beverage and food cargo theft. According to the FBI, cargo theft is estimated to cost trucking companies and retailers at least $15 billion to $30 billion a year. Cities that are seeing a spike in freight theft include Los Angeles, Houston, Miami, Savannah, Newark, New Jersey, Memphis and Chicago.
☆ Freight thieves are a growing problem inside the US supply chain
  + stars: | 2023-03-25 | by ( Lori Ann Larocco | Sara Lindsay | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFreight thieves are a growing problem inside the US supply chainTravelers' crime and theft specialist Scott Cornell joins CNBC's Lori Ann LaRocco to discuss the vulnerability of US cargo.
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