It's got absolutely nothing to do with terrorism (God, I hate the way that word is being bandied about these days), but has everything to do with theft and simple dishonesty.
Contract baggage handlers have been stealing stuff from luggage since commercial flights started. I even remember seeing a 60 Minutes show on it (along with "secret video surveillance") over 10 years ago.
Shit happens. Don't leave expensive stuff in your luggage. If stuff is stolen, contact the airline and raise a stink.
Mr Mephisto
(and yes, I travel a lot)
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