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Cargo Theft Costs Consumers and Companies Billions Each Year

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New York, NY, May 30, 2013 (GLOBE NEWSWIRE) -- American consumers and companies are losing tens of millions each month due to lax security at major airports where cargo theft is an every day occurrence, according to Squad Security,a leading New York-based security firm.

While it often goes unreported in the media, cargo theft on average occurs nearly three times a day, driving up operating costs for companies, which often pass the added expense on to the price tag of popular consumer goods. The problem impacts nearly every industry and results in losses of approximately $35 billion annually, according to industry estimates.

"This is a growing and persistent problem for many firms that utilize major international airport hubs to bring in supplies and ship their products to market,"said Michael Sapraicone, President of Squad Security, a New York-based security and investigations firm. "We have found that the longer the dwell time at any fixed location, the greater the risk that a company's high-value cargo will be a target of theft."

The increase in use of sophisticated electronic and computer-based tracking and video surveillance systems has not stopped the rise in cargo theft when high-value cargo is the target.

The best way to protect personal and corporate high-value shipments is to employ a 'boots on the ground' strategy, said Sapraicone, who advises a number of Fortune 500 firms on supply-chain security.

"All the new tracking systems are great to have but they are no substitute for eyeballs on the scene," Sapraicone said. "That means having a trained and dedicated security team track your shipment from start to finish, at every step of the supply chain, so it is never out of sight, even when it is being loaded into the belly of a cargo plane on the tarmac at the airport."

While adding a security team to personally track your cargo is an added cost, it is well worth the expense to prevent the potential loss of entire shipments of precious products, said Sapraicone.

Squad Security's experts, all of whom have extensive law enforcement backgrounds, have assisted in securing the safe passage of hundreds of millions in high value cargo for leading international firms. Squad Security's teams are intimately familiar with procedures and personnel at leading airports around the world, including in New York, London, Chicago and Los Angeles.

John Cornicello, Director of Investigations for Squad Security, recently participated in the most recent Cargo Theft Seminar conducted by the Miami-Dade Public Safety Training Institute.

"We are always looking at best security practices and staying current with the latest patterns and trends in the cargo industry," said John Cornicello.

Current data indicates that food and drink, followed by electronic products and pharmaceuticals, remain at the top of the most vulnerable products to be targeted for theft.

Squad Securityrecommends companies protect high valued cargo by:

· Restricting access to loading areas, and ensuring everyone who enters or exits has proper identification

· Conducting thorough background investigations on all new hires

· Checking the identify of all drivers who are removing cargo from a firm's facility

Truck drivers using fake identification recently have resulted in several large cargo shipment thefts.

"Firms with high value shipments really can't be too cautious in taking the necessary steps required to prevent theft of high-value products," said Sapraicone. "Careful planning and execution by experts in the cargo security field can save a company millions by making sure a shipment gets where it is intended to go and doesn't wind up in the wrong hands."

For more information on protecting your valued cargo, including cargo security escorts and background investigations, contact Squad Security at 212-461-2124, or send an email to: info@squadsecurity.com

About Squad Security

Squad Security, founded in 1992 by Michael D. Sapraicone, a retired New York City First Grade Detective, is a privately held corporation that specializes in armed security and private investigations.

Squad Security has offices in New York, London, Los Angeles, Chicago and Toronto, and is licensed in California, Connecticut, Illinois, New Jersey, New York, North Carolina, Pennsylvania, Texas, Canada and in the UK.

Related Links

www.squadsecurity.com

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CONTACT: John A. Cornicello Director of Investigations- Americas Squad Security 44 Wall Street, Suite 1225 New York, NY 10005 212-461-2124 Info@squadsecurity.com

Source: Squad Security