Third quarter supply chain analysis shows organized crime is driving increased theft activity

A new report shows a sharp increase in cargo thefts compared to last year and evolving organized crime tactics.

A CargoNet analysis of cargo theft trends for the third quarter of 2024 shows 776 cargo theft events in the U.S. and Canada in the third quarter, a 14% increase over the third quarter of 2023.

The report shows that the total value of stolen goods exceeded $39 million in the quarter. It also shows a 1.6% decrease in theft incidents compared to the second quarter of 2024, but the report's authors say this is likely to result in delayed reporting checks.

Compared to the third quarter of 2023, there was a shift in the target goods. Thefts of solar panels, motor oils and energy drinks decreased. The report shows that thefts of shoes, computers, high-end audio systems and alcohol thefts have increased.

The main perpetrators of cargo theft remain organized crime groups. According to the report, these groups commit strategic cargo theft, which typically involves document fraud, identity theft and the intent to steal the property they are entrusted to transport.

Organized crime activities and tactics in cargo theft include:

• Sophisticated phishing schemes: Organized criminal groups have increased their efforts to gain unauthorized access to drivers' official email accounts. These compromised accounts are then used to bid on shipments and bypass compliance checks.
• Acquired Agencies: Historically, organized crime groups have focused on recently acquired agencies in California. They are now particularly interested in authorities in states that are not believed to pose a high risk of cargo theft, after many companies implemented policies that say they will not accept new carriers from the state of California into their network.
• Improved evasion techniques: Organized criminal groups that steal part or an entire shipment are now swapping license plates, driver's licenses, and truck and trailer numbers between pickups to address the growing reliance on publicly available vehicle inspection data from the Federal Motor Carrier Safety Administration.

CargoNet is a Verisk company focused on cargo theft prevention and recovery.