2024 saw record-breaking cargo theft activity across the United States and Canada, with 3,625 reported incidents representing a 27% increase from 2023, according to global data analytics and technology provider CargoNet, a Verisk company.
The estimated average value per theft rose to $202,364, up from $187,895 in 2023, the analysis showed.
Each quarter of 2024 surpassed previous records set in 2023, though the margin of increase narrowed as the year progressed, according to the annually released report.
The most dramatic spike occurred in Q1 2024, with 317 more incidents than the same period in 2023, while Q4 2024 showed a more modest increase of 94 incidents, representing 11.8% year-over-year growth.
California and Texas experienced the most significant increases in theft activity. California reported a 33% rise in incidents, while Texas saw an even more dramatic 39% surge.
The five most impacted counties reported substantial increases, led by Dallas County, Texas, with a 78% spike in reported incidents. Los Angeles County, California, traditionally a high-activity area, saw a 50% increase while neighboring San Bernardino County experienced a 47% rise.
Notable shifts occurred in targeted commodities during 2024. While 2023 saw frequent theft of engine oils, fluids, solar energy products and energy drinks, 2024 marked a strategic pivot by criminal enterprises, the CargoNet report indicated.
New targets included raw and finished copper products, consumer electronics (particularly audio equipment and high-end servers), and cryptocurrency mining hardware.
The analysis also revealed increased targeting of specific consumable goods, including produce like avocados and nuts, along with personal care products ranging from cosmetics to vitamins and supplements, especially protein powder.
While theft-by-deception schemes garnered significant media attention throughout the year, traditional cargo theft methods remained prevalent.
Trailer burglaries and full trailer theft continued at elevated levels, particularly in major metropolitan areas, including Los Angeles, Dallas-Fort Worth, Atlanta and New York City.
The data suggests an evolving and increasingly sophisticated threat landscape in cargo theft, with criminal enterprises demonstrating tactical adaptability in both their methods and target selection.
In 2025, CargoNet expects these trends to continue, with organized criminal enterprises expected to maintain their aggressive targeting of supply chain vulnerabilities.
Topics
Fraud
Trucking
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