U.S. cargo theft rates on track for slighttomoderate rise in 2023

U.S. cargo theft rates on track for slighttomoderate rise in 2023

Cargo theft volumes in the U.S./Canada region increased by 22% between 2021 and 2022, with an average loss value increase of 48%. The trend is expected to continue in 2023 due to economic challenges and demand for low-cost goods. Strategic thefts accounted for 13% of recorded thefts, while full truckload and pilferage were the primary concerns at 68%. Unsecured parking locations and truck stops/fuel stations were the most targeted areas, and violence is also increasing. Structured criminal organizations are using sophisticated methods to target high-value loads. Cargo theft has negative impacts such as financial losses, bodily harm to drivers, unfair competition, tax reduction, and increased costs for consumers. The World Economic Forum's Global Risks Report highlights the top ten risks in terms of impact.

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Frequently Asked Questions

FAQ 1: Are U.S. cargo theft rates expected to increase in 2023?

Answer: Yes, a report from Overhaul suggests that U.S. cargo theft rates are on track for a slight-to-moderate rise in 2023.

FAQ 2: What types of cargo are being targeted by thefts?

Answer: Structured criminal organizations are targeting specific, high-value loads, indicating that these thefts are becoming increasingly sophisticated.

FAQ 3: How much did cargo theft incidents increase in the third quarter of 2023?

Answer: In the third quarter of 2023, cargo theft incidents rose by 59% over the same period from the previous year.

FAQ 4: Did thefts increase in specific categories during this time?

Answer: Yes, reported thefts increased in every event category during the third quarter of 2023.

FAQ 5: Is there a particular time when the risk of cargo theft increases?

Answer: Yes, cargo theft rates tend to jump during holiday periods. CargoNet has indicated that there is a heightened risk of theft over holidays like Labor Day.

FAQ 6: Are cargo thefts limited to goods in transit?

Answer: Cargo theft can occur both from warehouses and directly from trucks while in transit.

FAQ 7: How has the logistics industry been affected by cargo theft?

Answer: The logistics industry has to deal with increased risks and potential losses, prompting a need for better security measures and reporting to combat cargo theft.

FAQ 8: How can one stay informed about cargo theft and logistics news?

Answer: You can follow industry-related publications such as DC Velocity and Supply Chain Quarterly, which provide comprehensive coverage, including reports on cargo theft and logistics matters.

The links provided to DC Velocity and Supply Chain Quarterly may have more updated information and additional details.