On the Rise: Cargo Theft Surges in First Quarter of 2024
The trucking industry faces an ongoing challenge with cargo theft, and recent data indicates a troubling trend of increasing incidents in the first quarter of 2024. According to CargoNet , theft incidents increased 46% in 2024’s first quarter compared to 1Q 2023 and 10% from 4Q 2023. According to the report : *The average stolen shipment was $281,757 with the declared total being $76 million. *An estimated $154.6 million of product was stolen during 1Q 2024. *Illinois experienced the greatest spike in thefts (126% YOY) followed by California (72% increase YOY) and Texas (22% rise YOY). *Appliances, alcohol and beverages were among the top stolen products but CargoNet noted that a “wide array of goods” were stolen, creating a threat to all industries. *While the majority of thefts were “complex fraud schemes,” simple cargo theft continues to persist with popular hotspots being Southern California, Dallas-Fort Worth, Atlanta, and the corridor spanning New...