Cargo theft in US and Canada soars to record in 2024
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Cargo theft hit a record high in the U.S. and Canada for the second consecutive year, and the trend is expected to continue as criminal enterprises have become more sophisticated in their methods.
Verisk CargoNet's annual analysis released this week found that cargo theft surged 27% from 2023 to 2024, hitting a record 3,625 reported incidents last year with an average value of $202,364 per theft. All told, the losses are estimated at more than $454 million.
Cargo theft hit a record high in the U.S. in 2024 according to CargoNet, which expects the trend to continue. (CargoNet / FOXBusiness)
The study found California and Texas saw the greatest surge in theft activity, with heists jumping 33% in the Golden State and an eye-popping 39% in the Lone Star State.
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, according to the findings. Dallas County, Texas, led with a 78% spike in reported incidents. Los Angeles County, California – traditionally a high-activity area – saw a 50% increase.
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CargoNet reported notable shifts in the type of goods stolen last year, too. While 2023 saw frequent theft of engine oils, fluids, solar energy products and energy drinks, 2024 marked a strategic pivot by criminal enterprises. New targets included raw and finished copper products, consumer electronics and cryptocurrency mining hardware.
Cargo theft surged to another record high in 2024. (iStock / iStock)
The analysis also revealed increased targeting of specific
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