Transaction Search Form: please type in any of the fields below.
Date: April 30, 2024 Tue
Time: 12:35 am
Time: 12:35 am
Results for underreporting
1 results foundAuthor: Shepherd, Marv Title: Pharmaceutical Cargo Theft in Europe: Insights into the Severity of Potential Underreporting Summary: The total annual loss of all transit cargo stolen on European Union (EU) roads is relatively unknown because the theft of freight is often categorized as other types of crime or simply not reported. Consequently, the true magnitude and economic impact of cargo theft can only be estimated. The FreightWatch International Supply Chain Intelligence Center (SCIC) recently examined available data and cargo crime intelligence for Europe from 2013 to determine the potential value of stolen cargo. After arduously evaluating this information, SCIC ascertained that the estimated loss of all cargo theft in 2013 was valued at 11 billion Euros. (For more detail on this, see "Putting a Price Tag on Underreported Cargo Theft in Europe"). While that estimation is for the underreporting of all cargo theft in Europe, the research behind this report focuses specifically on the pharmaceutical industry in an effort to determine how much underreporting occurs in this market. To gain a better understanding of this, European pharmaceutical industry executives were asked for their insights on how extensive underreporting is in this industry - and their answer was that it is a serious and prevalent problem. Across the board, pharmaceutical manufacturer security personnel, risk managers, product security representatives, supply chain distribution specialists, insurance experts, and law enforcement, all agree that underreporting is a significant occurrence. In fact, over 80% of these industry experts believe there is a major-to-moderate problem in the reporting of pharmaceutical thefts. To put this in perspective, consider that in 2015, there were 24 reported thefts of pharmaceutical cargo in Europe. Almost all (92.8%) of the executives in this survey believe that the actual number of unreported thefts was at least twice the number of crimes reported in 2015. Drilling down deeper, over a third of the respondents stated that the number of unreported thefts was most likely three to five times greater than what was reported. Even of more concern, there were over 20% of respondents that believed the actual number of thefts could be five to ten times greater than the 24 reported crimes. Based on these findings, a conservative estimate for the actual number of pharmaceutical cargo thefts in 2015 could be anywhere from 72 to 120 incidents. This is a clear indication that the 24 reported crimes for that year is a gross misrepresentation of the actual number of crimes that occurred. And it also indicates that the risk of pharmaceutical theft is far greater than the industry perceives or is led to believe. This research report delves deeper into why cargo theft goes unreported, with more details on the extent of underreporting and where underreporting is most prevalent. Details: Beverly, Massachusetts: Sensitech, 2017. 20p. Source: Internet Resource: Accessed June 10, 2019 at: http://files.sensitech.com/sensitech/zh/contentimages/Pharmaceutical_Cargo_Theft_in_Europe_032017.pdf Year: 2017 Country: Europe URL: http://www.sensitech.com/zh/resources/white-papers/ Shelf Number: 156353 Keywords: Cargo Theft Pharmaceutical Theft Theft of Goods Transportation Security Underreporting |