Cargo Thefts — Way Up in the 3rd Quarter of 2023

The statistics are in and the picture isn’t pretty. Cargo thefts in the 3rd quarter of 2023 in the United States and Canada rose 59% compared to the 2nd quarter.

Here are the details according to an analysis by CargoNet.

• There were 692 thefts in the third quarter
• Top three targeted states: 1) California, 2) Texas, 3) Illinois
• Top targeted commodities: 1) Food and beverage, 2) Household goods
• Warehouse and distribution centers are the top target, truck stops are second
• Total loss in the quarter: $31,165,442

The favorite method of the thieves is misdirection. They steal a semi, or some sort of carrier, and then obtain false identities. They find the freight they want and then get it sent somewhere other than the intended source.

Smaller carrier groups are the most targeted.

Though food and beverage shipments and household goods have been the primary target of these groups, the thieves are now branching out into metals like aluminum, copper and brass, and sporting goods.

Source link: Insurance Journal — https://bit.ly/49hoVGA