The risk of cargo theft is expected to increase during Thanksgiving, according to CargoNet, which urges transportation companies to be vigilant during the holiday.
The cargo theft prevention company, which manages an information-sharing system about such thefts, reported that significant thefts typically occur from the Tuesday before Thanksgiving through the following Monday.
“This is one of the most interesting times of the year because of the delay,” said CargoNet Vice President of Operations Keith Lewis. “So actually, today, tomorrow, the supply chain is going to come to pretty much a halt.”
Thieves seize on the opportunity to prey upon sitting freight. CargoNet experts recommend increased vigilance and surveillance during the holiday period.
Cargo theft is a growing problem, especially as schemes become more advanced and sophisticated. CargoNet reported a 13% increase in Q3 of reported thefts — a $39 million loss.
Hot spots for cargo theft during this period include San Bernardino County and Los Angeles County in California and Cook County in Illinois. Texas has also been a major target the past five years.
Top commodities targeted in the schemes are food and beverage, household goods, and electronics, leading to companies reporting losses of $7.8 million over the past five years, according to CargoNet.
Food and beverage are leading goods targeted by thieves due to the inability to track a consumable item, like a bottle of tequila, compared to the serial number etched on an electronic, Lewis said.
Thieves also target freight all-kinds (FAK) shipments, hard liquor and vehicle accessories, indicating to CargoNet experts that thieves zero in on these commodities due to relationships with black market buyers.
Warehouses are the top location targeted by thieves, followed by parking lots and truck stops. The average reported loss in cargo amounts to almost $160,000.
Defrauding schemes have become more sophisticated. CargoNet has recorded 450 fraudulent pickup attempts this year, which leads the company to believe 2024 could be a record-breaking year.
Lewis said 20 years ago, it was not uncommon for thieves to make off with a trailer and leave items inside, indicating to Lewis that the thieves did not know what goods they were stealing. Now, theft rings will organize a team to track high-value loads in hopes of intercepting them through coordinated efforts.
“The bad guys have gotten much smarter,” he said. “The bad guys are playing chess and we’re playing checkers.”
Lewis urged companies to report cargo thefts to CargoNet, which tracks the problem and works to find solutions. Without proper reporting and data, it can make the issue appear less prevalent than it is, he said.
CargoNet recommends companies strengthen their security during the Thanksgiving holiday period. Companies should also implement stronger verification steps for shipments moving through high-risk areas.
Other recommendations include:
Make sure security managers and drivers know a vehicle’s license plate and vehicle identification number in case they need to report an incident.
Secure trailers with high-security ISO 17712-compliant barrier seals with hardened padlocks.
Secure tractors with high-security locking devices.
The post CargoNet warns of increased cargo theft risk during Thanksgiving holiday appeared first on FreightWaves.
