US cargo thefts continue to grow, down just a bit in Q2 a bit from record Q1 levels, but up big from the second quarter of 2023.
Supply Chain Digest Says...
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The firm also says theft by deception schemes are growing in popularity across the continental United States, particularly targeted pilferage schemes and non-delivery of whole shipments. |
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That data and more from the regularly recent quarterly “Risk Trends Analysis” report from CargoNet, a freight security company. It found there were 771 cargo theft incidents in the just completed Q2. That was down 10% from the previous quarter, but up by one third from the 2023.
The report notes a “slight behavioral shifts in the country's most prolific organized cargo theft groups operating in Southern California. Across the board, these groups evolved to be more discriminating in their shipment targets, stealing high-value freight like motor oil and computer electronics less frequently.”
The average shipment value in the quarter was $150,711, and CargoNet estimates that $68.5 million in freight was stolen during this period.
Compared to the first quarter of 2024, CargoNet saw significant growth in targeting of vitamins and supplements, alcoholic beverage shipments (primarily liquor), and over-the-counter skincare products.
In contrast, theft of vehicle accessories like tires and motor oils, footwear, and consumer electronics such as televisions and computers decreased notably.
The activity varies dramatically by state. Just three states – California, Texas and Illinois – accounted for 577% of total theft incidents in the quarter, the CargoNet data finds.
CargoNet expects cargo theft activity in the third quarter of 2024 to remain elevated.
The firm also says theft by deception schemes are growing in popularity across the continental United States, particularly targeted pilferage schemes and non-delivery of whole shipments.
“We anticipate that these methods of cargo theft will continue to increase in popularity,” CargoNet states.
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 The freight security firm has reported before on the growth of complex fraud schemes. This often involves document forgery, with cargo thieves pretending to be legitimate drivers to fraudulently secure a load. They then drive the load to its intended destination and partially unload it and alter the bill of lading to show the complete load was delivered.
After the record theft numbers in Q1, CargoNet said that this was “a continuation of what it characterized as a “sustained crime wave that began in late 2022.”
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