Q3 Cargo Theft Rises 14% From Last Year

Cargo thefts across the U.S. and Canada experienced a significant increase in the third quarter of 2024, with 776 reported incidents—a 14% rise compared to the same period in 2023, according to a new report from CargoNet. The total value of stolen goods for the quarter exceeded $39 million.

Although there was a slight 1.6% decrease in theft incidents compared to the second quarter of 2024, this gap is expected to narrow as delayed reports come in.

The report indicates that organized crime groups are primarily responsible for this rise, employing increasingly sophisticated tactics involving document fraud, identity theft, and the intent to steal entrusted property.

Key Findings:

• Increase in Incidents: A total of 776 cargo theft events were recorded across the United States and Canada in Q3 2024, marking a 14% increase compared to the same period in 2023.
• Value of Stolen Goods: The total value of stolen goods exceeded $39 million for the quarter.
• Slight Decrease from Q2 2024: There was a minor decrease of 1.6% in theft incidents compared to Q2 2024; however, this gap is expected to close due to delayed reporting.

Organized Crime:
Organized crime groups have stepped up their efforts to gain unauthorized access to motor carriers' official email accounts. These compromised accounts are used to bid on shipments and bypass compliance checks. This method has become more prevalent as many companies require that rate confirmation documents only be sent to official emails.

Enhanced evasion techniques have also been reported, with thieves switching license plates, driver's licenses, and truck numbers between pickups to evade detection. This strategy allows them to stage multiple thefts before their activities are discovered.