Report: Cargo Theft Soars 49 Percent in First Half of 2024

Freight hubs and major cities across North America are witnessing an alarming surge in cargo theft, with incidents skyrocketing by 49% in the first half of 2024 compared to the same period last year, Overhaul's United States & Canada H1 2024 Cargo Theft Report.

The surge in theft incidents has been accompanied by a dramatic rise in financial impact. The average loss per incident skyrocketed to $115,230, marking an 83% increase from the same period last year. This trend underscores the growing sophistication and ambition of cargo thieves, who are systematically targeting high-value shipments.

California remains the epicenter of this crisis, accounting for 45% of all reported cargo thefts, followed by Texas at 14%. Particularly concerning is the Southern California Red Zone, defined as the first 200 miles of travel for shipments departing from this area, which alone concentrated an alarming 36% of all cargo thefts in the country, averaging 58.6 thefts per month, nearly two each day. Remarkably, this region experiences as many cargo thefts as Texas, Tennessee, Illinois, Georgia, and Arizona combined.

"This report should be a wake-up call. We conduct this research to help quantify the risk shippers need to mitigate in their supply chains. The increasing frequency and scale of cargo thefts make it clear that companies need more supply chain risk management and control over their shipments," said Barry Conlon, CEO and Founder of Overhaul. "Criminals are not only more organized, but they're also tracking loads as they leave warehouses and distribution centers known to store valuable products, waiting to strike when vehicles are left vulnerable."

The most sought-after target for thieves was electronics, representing 23% of all thefts. Home and garden products are a distant second at 14%. The report also highlights a concerning trend in the methods employed by criminals. Facility thefts have seen a significant uptick, now representing 19% of incidents, a sharp increase from just 4% in the first half of 2023. Additionally, there's been a rise in large-scale pilferage incidents, contributing to a 17% increase in the average value of pilferage thefts.

These findings are a prime example of why Overhaul's advanced monitoring and tracking solutions, which ensure that 99.9% of cargo arrives safely - on time and intact - are more critical than ever. The company's comprehensive approach to safeguarding cargo, supported by a 96% recovery rate of stolen cargo in the U.S., provides shippers with the confidence that their valuable goods are protected every step of the way.

"With criminal networks becoming increasingly organized and sophisticated, companies should implement a multi-layered approach to safeguard their supply chains," Ron Greene, EVP, Risk, Intelligence and Response, said. "Effective risk management today means rigorous verification of everyone involved in moving or storing shipments, extreme diligence in vetting carriers and drivers — especially in high-risk zones like Southern California — and employing tracking technology throughout the shipment's journey. With these measures, companies can better protect their cargo, quickly identify potential threats, and engage law enforcement efficiently if a theft occurs."

Featured

  • Allegion, Comfort Technologies Implement Mobile Credentials at the Artisan Apartment Homes in Florida

    Artisan Apartment Homes, a luxury apartment complex in Dunedin, Florida, recently transitioned from mechanical keys to electronic locks and centralized system software with support from Allegion US, a leading provider of security solutions, technology and services, and Florida-based Comfort Technologies, which specializes in deploying multifamily access control, IoT devices and software management solutions. Read Now

  • Mall of America Deploys AI-Powered Analytics to Enhance Parking Intelligence

    Mall of America®, the largest shopping and entertainment complex in North America, announced an expansion of its ongoing partnership with Axis Communications to deploy cutting-edge car-counting video analytics across more than a dozen locations. With this expansion, Mall of America (MOA) has boosted operational efficiency, improved safety and security, and enabled more informed decision-making around employee scheduling and streamlining transportation for large events. Read Now

  • Security Industry Association Launches New “askSIA” AI Tool

    The Security Industry Association (SIA) has unveiled a brand-new SIA member benefit – askSIA, a conversational AI agent designed to help users get the most out of their SIA membership, easily access SIA resources and find the latest information on SIA’s training and courses, reports and publications, events, certification offerings and more. SIA members can easily find askSIA by visiting the SIA homepage or looking for the askSIA icon in the top left of webpages. Read Now

    • Industry Events
  • Industry Embraces Mobile Access, Biometrics and AI

    A combination of evolving workplace dynamics, technology innovation and new user expectations is changing how people enter and interact with physical spaces. Access control is at the heart of these changes. Combined with biometrics and AI, mobile access control has become increasingly crucial for deploying entry solutions that are seamless, secure and adaptive to user needs. Read Now

  • Sustainable Video Solution Delivered for Landmark City of London Office Development

    An advanced, end-to-end video solution from IDIS, with a focus on reducing waste and costs, has helped a major office development in the City of London align its security with sustainability objectives. Read Now

New Products

  • Automatic Systems V07

    Automatic Systems V07

    Automatic Systems, an industry-leading manufacturer of pedestrian and vehicle secure entrance control access systems, is pleased to announce the release of its groundbreaking V07 software. The V07 software update is designed specifically to address cybersecurity concerns and will ensure the integrity and confidentiality of Automatic Systems applications. With the new V07 software, updates will be delivered by means of an encrypted file.

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols.