The Alarming Rise in Cargo Theft
The trucking industry experienced a record-breaking surge in cargo theft in 2024, with incidents rising 27% year over year across North America, according to Verisk CargoNet. In total, 3,625 cargo thefts were reported, marking the highest number ever recorded. Not only are thefts becoming more frequent, but they are also growing more costly—the average value per stolen shipment increased by 7.7% to $202,364.
The most targeted goods included copper products, consumer electronics, cryptocurrency mining hardware, and consumable goods, reflecting both supply chain demand and criminal adaptability.
Cargo theft is no longer just a matter of stolen trucks or warehouse break-ins. The industry now faces a sophisticated blend of physical heists and digital fraud, making it harder than ever for carriers, brokers, and shippers to protect their freight.
How Criminals Are Targeting Cargo
Criminals are adapting quickly, using more sophisticated fraud schemes and deception-based tactics rather than relying solely on traditional smash-and-grab thefts. According to Keith Lewis, vice president of operations at CargoNet, organized crime groups have significantly evolved their approach.
“Back in the old days, they would just go to the truck stop and break into the trucks and whatever they got was potluck. Now, they’re following trucks, knowing which way they’re going, and calling ahead to accomplices who execute the heist.” – Keith Lewis, CargoNet
In some cases, criminals purchase small trucking companies to gain legitimate operating records, allowing them to commit fraud under the guise of a legal carrier. With back-office automation and AI-driven document processing, companies may unknowingly approve fraudulent contracts or freight transfers.
Key trends in 2024 cargo theft:
- Relay-style truck hijackings: Criminals track shipments and coordinate handoffs to execute seamless thefts.
- Fraudulent carriers: Some criminals create fake trucking companies or take over existing ones to access high-value freight.
- Document forgery: Falsified bills of lading, insurance certificates, and broker credentials make it easier for criminals to deceive logistics firms.
- Remote coordination: Many thefts are orchestrated from overseas locations, making them even harder to investigate.
Industry Experts Weigh In
Jared Fritts, a loss control specialist at IAT Insurance Group, emphasized the growing challenge for carriers:
“It’s a really challenging environment out there on the cargo theft side. Both traditional theft and fraud-based theft are growing, and criminals don’t even have to be in the same country to steal a load.”
According to Ron Greene, executive VP at Overhaul, economic factors have worsened the situation. Many small trucking companies struggling financially have been tempted into cargo theft as a way to stay afloat.
“Unfortunately, some struggling trucking companies have turned to crime to keep their businesses alive. We have data confirming that.”
Greene warns that the freight recession has increased supply chain risk, creating a perfect storm for both legitimate struggling carriers and criminal enterprises looking to exploit vulnerabilities.
What Companies Are Doing to Fight Cargo Theft
With thefts increasing at an alarming rate, trucking and logistics firms are ramping up security measures to combat fraud and cargo heists.
- Enhanced Fraud Detection & AI Analytics
- Overhaul has developed FraudWatch, which uses real-time data to identify suspicious activity.
- Total Quality Logistics (TQL) has implemented behavioral analytics to detect fraud patterns.
- Carriers are cross-checking GPS data, driver IDs, and warehouse entry logs to prevent infiltration.
- Industry Collaboration
- More freight brokers, carriers, and insurers are sharing data on high-risk zones and suspicious operations.
- Law enforcement agencies are working closer with trucking firms to track and shut down theft rings.
- Increased Training & Security Measures
- Companies are training dispatchers and drivers to spot red flags, such as sudden route changes or unfamiliar shippers.
- More fleets are investing in real-time cargo tracking and geofencing alerts.
Despite these efforts, many industry leaders expect cargo theft to remain a major problem in 2025. As criminals continue refining their tactics, the trucking industry will need to stay ahead by leveraging technology, training, and industry-wide cooperation to combat this growing threat.
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