We usually check a bag.. and have never had anything stolen.. of course we are not stupid enough to have anything of value in our bags.. I find it hard to feel sorry for people stupid enough to put a 5,000 dollar watch in their luggage ( as per article) or an iPad etc.. come on.. that is Travel 101..
I also do not own designer clothes.. so no risk of them coveting my 20 dollar t shirts.. lol..
I have checked bags for multiple flights over last 35 plus years.. its like anything.. some common sense is needed. And yes.. I do believe their are crooks in jobs that they should not be..anyone working behind the scenes at airports should be at least a high school grad,, should pass all security tests.. and ( and this is a big one) .. should be paid a decent wage.. I think if you are paying someone 10 bucks an hour and have them in a job like this you are looking for trouble.. losing their crummy paying job isn't enough of a risk to them to not indulge their light fingered temptation.
Bottom line. Do NOT pack any valuables in checked bags..