Cargo theft 2024 outlook: All-time high

Cargo theft continues to plague freight haulers across the U.S. With more spikes around the holiday season, according to the most recent Cargonet report, thieves have increasingly preyed on the trucking industry over the past five years.

Cargo theft prevention tips for 2024

There are many things fleets and truck drivers can do to protect themselves from cargo theft, according to Scott Cornell of Travelers Inland Marine. Here are some theft prevention tips for fleets to consider in 2024:

Make sure drivers are aware of perils

To prevent cargo theft, there needs to be awareness of cargo theft on all levels, from fleet executives to risk managers to, most importantly, truck drivers. “If you make the drivers aware… I think you'll find that your best frontline prevention method is the driver themselves,” Cornell told FleetOwner.

Processes and procedures go a long way

According to Cornell, it’s essential to have good processes and procedures in place regarding cargo theft. For prevention, everyone in a fleet should know what to do and why they should do it. There should also be steps in place for when cargo theft does occur. You don’t want to have to figure out how to handle cargo theft after it happens; you should already know exactly what steps must be taken.

Use equipment and technology to help prevent thefts

To prevent cargo theft, fleets can use hard locking devices, rear door locks, and covert tracking devices on their trucks.

Stay educated on industry trends

To be more informed on the latest cargo theft trends, fleets can attend cargo theft conferences and webinars for additional training. One annual cargo theft conference is the Cargo Theft and Transportation Summit. There are also nonprofits devoted to preventing cargo theft that fleets can join and learn from, such as the Transported Asset Protection Association.

During the 2022-2023 holiday season, 56 incidents were reported between December 23 and January 2. While the Q4 2023 numbers aren’t in yet, it’s time to look ahead at 2024 and what the industry can expect regarding cargo theft.

Cargo theft isn’t slowing down

According to Scott Cornell, the national segment lead for transportation at Travelers Inland Marine, the industry shouldn’t expect cargo theft to slow down soon.

“Cargonet reported a few months back that cargo theft is at a 10-year high. I think it's at an all-time high,” Cornell told FleetOwner. Cornell has more than 27 years of experience with cargo theft, working on a team since 2005 that investigates incidents for Travelers’ clients. Since 2011, they've recovered more than $90 million in stolen goods.

According to Cornell, it’s important to remember that information from Cargonet and other sources only refers to a sample size of reported cargo thefts. The cargo theft outlook is much worse—especially since reporting cargo theft in the U.S. isn’t mandatory.

Cornell believes there are two reasons why theft isn’t slowing down: it is still easy for thieves and international demand is rising.

Trends to watch

The end of 2023 highlighted three cargo theft trends to watch this year: types of theft, what’s being stolen, and where it’s happening.

According to Cargonet, strategic cargo theft is on the rise. This includes when thieves trick targets into giving them cargo through methods such as identity theft, fictitious pickup, and double brokering, according to Cornell. Strategic cargo theft is less risky for thieves than straight cargo theft because it doesn’t require the culprits to be physically present. Because of this reduced risk, Cornell believes strategic cargo theft will continue to be a problem in 2024.

When it comes to stolen commodities, Cargonet reports that cargo thieves prefer shipments including “energy drinks, sodas, liquor, hard seltzers, motor oils, tires, and solar panels.” But Cargonet also notes a broader range of commodities have recently been targeted, including “footwear, clothing, beauty products, ATVs, and construction equipment.” According to Cornell, the economy drives what commodities are targeted for cargo theft; however, food and beverages are always targets because they’re consumable.

Cornell told FleetOwner that while areas such as Southern California, Texas, Florida, Georgia, Memphis, and Chicago are cargo theft hotspots, there are also increasing thefts in areas across the U.S. that didn’t see thefts previously.

“Over the last 18 months, we've noticed cargo theft spreading into non-traditional areas of the country,” Cornell said. “Because if I'm stealing virtually, and I don't have to care about where it sits, I can target a load of meat coming out of Iowa instead of a load of meat coming out of Texas. As a thief, my thought process is going to be: ‘People in North Dakota don't think about cargo theft. So I'm going to target some loads coming out of North Dakota.’”