Cargo Thefts Rise Nearly 60%

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Written By Jennifer Joslyn

👮🏼‍♀️ Cargo Thefts Rise Nearly 60%.

CargoNet has reported a significant increase in cargo thefts in the second quarter of 2023, with 582 recorded incidents in the United States and Canada. This marks a 57% rise compared to the same period in 2022. The increase is attributed largely to shipment misdirection attacks, a type of strategic cargo theft involving stolen motor carriers and logistics broker identities to obtain and divert freight. The total value of stolen shipments exceeded $44 million in Q2 2023, with an average value of $260,703 per theft. Cargo thefts involving loaded conveyances, such as full trailers, increased by 17% year-over-year. These thefts were most common in California, Texas, Florida, and Illinois. Additionally, CargoNet noted a growth in extortion and theft by conversion schemes, primarily orchestrated by organized groups in Illinois and California.

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Jennifer Joslyn
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