Cargo theft in the U.S. and Canada surged to unprecedented levels in 2024, according to Verisk CargoNet, a division of the global data analytics and technology company Verisk. The firm reported a record-breaking 3,625 incidents, a 27% increase from 2023, with an average theft value climbing to $202,364, up from $187,895 the previous year. The total losses from cargo theft amounted to over $454.9 million.
Each quarter of 2024 surpassed the records set in 2023, with the most significant jump occurring in the first quarter—317 more incidents compared to the same period in 2023. By the fourth quarter, the increase slowed, with 94 additional incidents marking an 11.81% year-over-year rise.
California and Texas experienced the sharpest increases in theft. California saw a 33% rise, while Texas reported a 39% surge. Among the hardest-hit areas, Dallas County, Texas, led with a 78% spike, followed by Los Angeles County, California, which recorded a 50% increase. San Bernardino County, California, also faced a significant 47% rise.
Criminals shifted their focus in 2024, targeting new commodities like copper products, high-end consumer electronics, cryptocurrency mining hardware, and personal care items such as cosmetics and protein powder. Previously common targets, including engine oils, solar products, and energy drinks, were less frequently stolen.
While theft-by-deception schemes garnered attention, traditional methods like trailer burglaries and full trailer thefts remained prevalent, particularly in major cities like Los Angeles, Dallas-Fort Worth, Atlanta, and New York City.
The data points to a growing and more sophisticated cargo theft threat, with organized criminal groups demonstrating adaptability in both their tactics and choice of targets. Verisk CargoNet expects these trends to persist in 2025, with continued exploitation of supply chain vulnerabilities by organized crime.
