The data is in- food and beverage products were the top targets for freight theft in 2023, and the FBI estimates that cargo theft costs U.S. businesses between $15- $30 million annually. This figure is rising due to increased goods prices influenced by recession and inflation, making stolen goods more profitable on the resale market.
In the second quarter of 2023, CargoNet reported 582 cargo thefts in Canada and the U.S., a 57% year-over-year increase compared to 2022. Thieves targeted high-value shipments, leading to an average shipment value per event of $260,703. The most common theft locations included California, Texas, Florida, and Illinois.
CargoNet also estimated that in 2022, $223 million worth of cargo was stolen across all cargo modes in the U.S. This figure represented a substantial risk, with strategic theft (involving significant planning and organization) and straight theft (physical theft at locations like truck stops and parking lots) being prevalent methods. The top targeted theft locations were warehouses, distribution centers, and parking lots/truck stops, with the average value of cargo stolen per event being $214,104.
The top three states that represented 46% of that theft? California, Texas, and Florida.
Cargo theft often occurs during the transfer of goods between transportation modes- or at warehouses and distribution centers during storage or transfer. Cargo isn’t the only thing at risk, however- vehicles, personal items, vehicle parts- all present appealing targets for theft and resale in an increasingly high-pressure economy.
To mitigate these risks, it’s crucial for businesses to strengthen their security measures. A layered security approach is widely recommended, involving strong perimeter fencing, video surveillance, lot lighting, and alarm systems.
Check out how Stealth’s live video monitoring helped deter a group of burglars in action when they targeted a Texas distribution center in the early morning hours below:
At approximately 4:00 am., Stealth security professionals were notified of activity at the access gate of a Texas distribution center. Surveillance feeds revealed a white pickup containing multiple individuals had gained access to the secured parking facility, with one suspect sliding through the gate to get inside before opening it for the vehicle. The group dispersed one inside the facility, accessing multiple vehicles. Observing monitoring operators immediately activated audible onsite warnings and contacted local police dispatch with the details of the activity in progress. After officers arrived onsite, the group, who had hidden inside their vehicle, took off with officers in pursuit.
Help Reduce Cargo Theft’s Billion-Dollar Toll with Proactive Security Solutions
Safeguarding assets is a critical concern for transportation and logistics providers. With billions lost to theft annually, companies require an innovative solution that goes beyond traditional passive security methods.
Stealth offers a live video monitoring surveillance solution tailored to protect inventories, vehicles, warehouses, lots, and facilities. Our experienced team and intelligent camera analytics help identify suspicious activity in real-time across your properties. By taking a proactive approach, we can enable rapid response to mitigate risks before they escalate.
As specialists in the field, we understand the complexities of safeguarding goods in transit and storage. That’s why we provide customizable security specific to your operations – strategically placing cameras in high-risk areas and staffing highly skilled monitors to interpret footage.
The result is an effective, affordable system that helps reduce and deter theft and other criminal activity on your property while delivering actionable insights into site activity. Stealth clients often see security costs decrease by up to 60%.
If you’re ready to take a smarter approach to security, contact Stealth today. Our transportation and logistics experts are available for risk assessments and to create an integrated solution for your business.
Texas Private Security License Number: B14187
California Alarm Operator License Number: ACO7876
Florida Alarm System Contractor I License Number: EF20001598
Tennessee Alarm Contracting Company License Number: 2294
Virginia Private Security Services Business License Number: 11-19499
Alabama Electronic Security License # 002116
Canada TSBC License: LEL0200704