Skip to content
Logistics and supply chain operations are big business, and where big business exists, opportunistic threats are quick to emerge. For supply chains and logistics firms, these threats have become so widespread that cargo theft is expected to reach record levels in the United States, with estimated losses to the U.S. economy exceeding $35 billion annually. This latest surge is far from a new trend, as CargoNet reported a 14% year-over-year increase in theft during Q3 2024, signaling an issue that shows no signs of slowing down. It’s time for action to be taken.
Establishing the cause of cargo theft
The alarming increase in cargo theft is not limited to specific regions or industries – incidents of theft are widespread, affecting everything from consumer electronics and pharmaceuticals to food and beverage shipments. High-value items are especially attractive to organized criminal networks, which continue to become more sophisticated in their methods, largely fueled by advancements in technology such as generative AI which criminals are using to create false identities or forge documents. It is also becoming increasingly more difficult and costly for authorities to track and recover stolen goods, and this combination has led to an exponential increase in cargo theft.
Read more on Food Logistics.
