As the nation prepares to recognize National Logistics Day on June 28, the Transportation Intermediaries Association (TIA) is sounding the alarm on a growing national crisis: the sharp rise in supply chain fraud.
“Strategic fraud and cargo theft in our industry has reached a boiling point,” says Chris Burroughs, president and CEO of TIA. “It’s not just a logistics problem—it’s a consumer problem. Fraud drives up the price of everyday items and disrupts the movement of goods that American families rely on.”
Key takeaways:
· According to TIA’s latest State of Fraud in the Industry report, freight fraud has skyrocketed by 1,500% since 2021, costing the economy $35 billion annually.
· Third-party logistics (3PL) brokers are bearing the brunt of this crisis, often without adequate federal support.
- 83% of logistics companies experienced multiple types of fraud in just six months.
- Nearly half of all thefts targeted consumer goods like electronics and household products. These losses drive up prices and disrupt the availability of essential products across the country.
- Some companies lost over $200,000 in a single fraud incident.
