cargo theft

Cargo theft spiked last year, with thieves becoming more strategic and targeting high-value loads.

“The motives and the way the criminals are operating has changed, and cargo theft is increasing tremendously,” said Keith Lewis, vice president of operations at CargoNet, a Verisk company.

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Cargo theft continued to increase in 2022, jumping 20%, with thieves targeting parking lots and warehouses, according to the latest data from CargoNet. Plus, events that involved the theft of at least one heavy commercial vehicle, such as a semi-truck or semi-trailer, increased by 17% year-over-year.

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Cargo theft can cost thousands or even millions of dollars per load, and food and beverages are among the most targeted commodities across the United States and Canada. That is followed by household goods, vehicles and accessories, and pharmaceutical and medical products, according to the latest figures from CargoNet, a theft prevention and recovery network. CargoNet said the cost associated with stolen cargo was just over $60 million in 2021.

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Cargo theft can be a costly issue for fleets, and the time of the year, the locations where drivers park, and the commodity drivers are hauling all contribute to a load's risk.

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