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With the increase of cargo theft and fraud in recent years, fleets can tap into technology to better know their shipments are secure.
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With the explosive growth of the freight market during the COVID-19 pandemic, cargo theft and fraud surged. Thieves stole more than $31 million in shipments just in the third quarter of 2023.
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CargoNet has issued a warning to supply chain professionals and the North American trucking industry saying the threat of cargo theft is “extremely” high heading into Thanksgiving 2023.
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CargoNet said there were 692 recorded theft events during the third quarter of 2023 and thieves stole more than $31 million in shipments. The company warns that strategic cargo theft by using stolen identities of brokers and motor carriers continues to increase.
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Northland Insurance has added a telematics program, a cargo theft reporting tool, and a curated set of safety and risk mitigation resources.
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Motive said its new AI Omnicam is the industry’s first artificial-intelligence-enabled camera designed for side-, rear-, passenger-, and cargo-monitoring.
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Activity for the Fourth of July weekend in 2020 was at its highest since 2016 and increased by 123% over the previous year, according to a CargoNet analysis.
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The average volume and value of the cargo thefts in 2020 were the highest recorded in the last five years.
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An abundance of parked, unattended trucks over holidays means a spike in cargo theft, CargoNet reports.
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Today’s telematics solutions can do more than follow vehicles’ digital breadcrumb trail on a map or track truck driver hours of service. They are now business tools can help drive savings and revenue to a truck fleet's bottom line.
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