FBI statistics that indicate $15 to $30 billion is lost to cargo theft annually, and the American Transportation Research Institute is asking motor carriers and brokers to participate in a new research initiative to gather more information on the problem.
The leaders of a Southeast cargo theft ring have been sentenced to prison for more than $1.7 million in cargo thefts.
As much as $154.6 million in goods were stolen in the first quarter of 2024, according to a report by CargoNet.
QuikSkope has launched a fraud protection tool that it says uses a five-step process that combines real-time information cross-referencing, pre-pickup load-level verification, geofencing and photo verification, efficient scanner technology, and reliable partner authentication.
Cargo theft remains high, both through pilferage and strategic theft, but there are steps drivers and fleets can take to better protect shipments. CargoNet shares holiday-season cargo theft trends and corresponding theft-prevention tips.
With the increase of cargo theft and fraud in recent years, fleets can tap into technology to better know their shipments are secure.
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.
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.
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.
Northland Insurance has added a telematics program, a cargo theft reporting tool, and a curated set of safety and risk mitigation resources.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
