3Q Supply Chain Analysis Shows Organized Crime Driving Increased Theft Activity

A new report shows a large year-over-year increase in cargo theft incidents and evolving organized crime tactics.

A CargoNet analysis of cargo theft trends for the third quarter of 2024 shows 776 cargo theft events across the U.S. and Canada in Q3, a 14% increase from Q3 2023.

The report shows the total value of stolen goods exceeded $39 million for the quarter. It also shows a decrease of 1.6% in theft incidents compared to Q2 2024, however the report’s authors say that is expected to close with delayed reporting checks.

There has been a shift in targeted goods compared to Q3 2023. Thefts of solar panels, motor oils and energy drinks were down. Footwear, computers, high-end audio systems and hard liquor thefts were up, the report shows.

The primary drivers of cargo theft continue to be organized crime groups. These groups conduct strategic cargo theft that usually involves document fraud, identity theft and intent to steal the property they are being entrusted to transport, according to the report.

Organized crime cargo theft activities and tactics include:

• Sophisticated phishing schemes: Organized crime groups have intensified efforts to gain unauthorized access to motor carriers’ official email accounts. These compromised accounts are then used to bid on shipments and bypass compliance checks.
• Purchased authorities: Previously centered around recently purchased authorities in California, organized crime groups are now primarily interested in authorities in states not thought to be high-risk for cargo theft, after many companies have instituted policies that they will not accept new carriers from the state of California into their network.
• Enhanced evasion techniques: Organized crime groups that are stealing part of a shipment or stealing a whole shipment are now switching license plates, driver’s licenses and truck and trailer numbers between each pickup to combat growing reliance on publicly available Federal Motor Carrier Safety Administration vehicle inspection data.

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