In the first quarter of 2024, cargo theft incidents were up more than 46% compared with the year prior, according to CargoNet, a subsidiary of Verisk. Notably, it’s also a 10% rise from the fourth quarter last year. CargoNet analysis of the first quarter of 2024 documented 925 incidents, with an average stolen shipment value…
In 2022, vehicle thefts surpassed 1,000,000—a 25% increase from previous years. This equates to roughly one vehicle stolen every 32 seconds in the United States. Vehicle theft cost vehicle owners more than $8 billion in 2022. To help drivers keep their vehicles safe, the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) has…
Cargo theft continues to plague the transportation industry. It may seem like cargo theft is a victimless crime, but it affects all of us because manufacturers price their goods to include a theft component. While it is difficult to tally the amount of loss attributed to cargo thefts annually, the National Insurance Crime Bureau estimates cargo…
Theft can happen at any time—this is particularly true in the construction industry, where expensive tools and machinery are often left in plain sight or are easily accessible to criminals. Construction site theft is especially damaging, as the theft of materials and tools can quickly delay a project, sometimes bringing production to a halt. It…
Cargo theft affects businesses across the globe and is recently becoming more of a major threat. Beyond the direct cost of the stolen goods, missing cargo can have far-reaching supply chain implications. Criminals are out to make a fast buck, so any products could be targeted. According to Freight Watch International, in the United States,…
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