The Transported Asset Protection Association (TAPA) Asia has formed a new anti-cargo crime taskforce for China (CACCTF). The steering committee of the newly-formed CACCTF aims to raise the level of co-operation with Chinese authorities in order to achieve a safer and more secure supply chain environment. The cost of global cargo theft, according to the US Federal Bureau of Investigation’s report in 2006, is conservatively estimated to be US$15-30 billion a year.

Adding the cost of investigating these incidents, processing insurance paperwork and paying claims takes the actual annual business impact of cargo crime to a potential US$60 billion. Hi-tech products, such as mobile phones, MP4 players, chips, laptops and memory sticks continue to be favourite crime targets.

With the aim of enhancing the security environment for safe transit of shipments in China, TAPA Asia chairman Jason Teo said, “it is timely to move forward and join forces with local authorities in the fight against cargo crime. Local enforcement agencies need the support of the industry players, and vice-versa, to reduce cargo crime and make China a safe haven for cargo transit.”