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Rise in Truck Cargo Theft

Rise in Truck Cargo Theft - Route Newsletter: April 2024

Cargo theft has been a growing concern in the trucking industry in recent years. CargoNet, the cargo theft prevention and recovery network, reports 692 reported thefts in North America during the third quarter of 2023. This represents a significant 59% increase compared to the same period in 2022. The total value of stolen goods in Canada and the U.S. last year was estimated at $449 million, a 47% increase from the previous year, indicating the need for the industry to reassess its security and risk management strategies.

In the past, insiders often perpetrated cargo theft, making it easier to identify and apprehend the culprits. However, the nature of these crimes has changed, and the industry now faces more sophisticated threats. Cyber fraud and advanced identity theft tactics have led to a surge in fictitious pick-ups, where cargo is stolen using fake documents. This theft increased by 600% in 2023 across Canada and the U.S..

One of the most audacious cargo theft incidents occurred in April 2023, when a thief stole $23.8 million in gold and cash from an Air Canada warehouse using counterfeit documents. This incident serves as an example of the risks posed by such fraudulent tactics.

To combat this trend, it is vital to take proactive steps to secure your cargo. Working with a trusted service provider to implement robust security measures is crucial. These measures should include thorough vetting of carriers and drivers and ensuring that your freight is covered by comprehensive cargo insurance to protect against potential losses.

If you need further details or assistance protecting your cargo, contact William Sanchez, Manager – Truck Services at Universal Logistics.

Quick Tip #39
Three ways to prevent cargo loss

Did you know that just over 80% of all cargo losses are preventable? Cut your losses by following these three simple tips:

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