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Cargo theft losses total $12.6 billion in E.U. in 2013: Study

Posted On: Feb. 2, 2016 12:00 AM CST

A study by Ireland-based logistics security services firm FreightWatch International Ltd. revealed that losses from cargo theft in the European Union amounted to €11.6 billion ($12.6 billion) in 2013, reported

The economic damage is much greater as many thefts go unreported, said the study.

Criminal groups have "become better organized and more capable of operating across Europe" and "threats to the supply chain are substantially higher today," than they were a decade ago, added the study.

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