Supply Chain Digest Says...
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| CargoNet concludes by noting that the data suggests an evolving and increasingly sophisticated threat landscape in cargo theft. |
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Cargo thefts in the US and Canada jumped a remarkable 27% in 2024.
That according the latest quarterly analysis from freight security firm Varisk CargoNet. Its research identified 3625 theft incidents in the past year. The estimated average value per theft also rose to $202,364, up from $187,895 in 2023.
What’s more, every quarter of 2024 surpassed theft metrics that set previous records in 2023, though Cargo net notes the margin of increase narrowed as the year progressed. It says that the most dramatic spike occurred in Q1 2024, with 317 more incidents than the same period in 2023, while Q4 2024 showed a more modest increase of 94 incidents, representing an 11.8% year-over-year increase.
As usual, just a few states led the way with big time numbers. California and Texas experiencing the most significant increases in theft activity. California reported a 33% rise in theft incidents, while Texas saw an even more dramatic 39% surge. The five most impacted counties all reported substantial increases, led by Dallas County, Texas, with a 78% spike in reported incidents. Los Angeles County, California, traditionally a high-activity area, saw a 50% increase, while neighboring San Bernardino County experienced a 47% rise.
CargoNet noted big shifts occurred in the types of goods targeted by thieves during 2024. While 2023 saw frequent theft of engine oils, fluids, solar energy products, and energy drinks, 2024 marked a strategic pivot by criminal enterprises.
New targets included raw and finished copper products, consumer electronics (particularly audio equipment and high-end servers), and cryptocurrency mining hardware, CargoNet found. The analysis also revealed increased targeting of some specific consumable goods, including produce like avocados and nuts, along with personal care products ranging from cosmetics to vitamins and supplements, especially protein powder.
(See More Below)
This and more are shown in the infographic below from the CargoNet report.
While newer “theft-by-deception” schemes garnered significant media attention throughout the year, traditional cargo theft methods remained prevalent, CargoNet says, adding that trailer burglaries and full trailer theft continued at elevated levels. The report says this was particularly in major metropolitan areas, including Los Angeles, Dallas-Fort Worth, Atlanta, and New York City.
CargoNet concludes by noting that the data suggests an evolving and increasingly sophisticated threat landscape in cargo theft, with organized crime demonstrating tactical adaptability in both their methods and target selection.
Looking ahead to 2025, CargoNet anticipates a continuation of these trends, with organized criminal enterprises expected to maintain their aggressive targeting of supply chain vulnerabilities
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