(www.MaritimeCyprus.com) 2024 cargo theft trends reveal a rapidly evolving landscape shaped by shifting criminal tactics and emerging targets. Food and beverage products were the most frequently stolen, accounting for 22% of all incidents, followed by agricultural goods at 10%, electronics at 9%, and fuel at 7%. 76% of thefts involved trucks and in terms of theft types, hijackings led at 21%, followed by vehicle theft at 20%, theft from facilities at 16%, and theft from vehicles at 14%.
The majority of thefts—41%—occurred during transit, with 21% linked to warehouses and smaller percentages attributed to production facilities, delivery sites, parking lots, and others. Geographically, hotspots included Brazil, Mexico, India, the United States, Germany, Chile, and South Africa, with the highest number of incidents reported in the first and last quarters of the year.
A standout trend this year is the growth of strategic thefts, now representing 18% of all incidents in the United States. Deception, fraud, and advanced planning define these thefts. Criminals employed tactics such as impersonation and document forgery and even leveraged AI technologies to manipulate bills of lading and orchestrate remote operations. Such schemes highlight the increasing sophistication of criminal networks and their deepening knowledge of supply chain vulnerabilities. Warehouses and transit points remain particularly vulnerable to these well-coordinated attacks.
Internet-enabled crime has also emerged as a significant facilitator of cargo theft. Criminals are utilizing artificial intelligence (AI) to create phishing emails, deep fakes, and malware aimed at accessing sensitive freight information. Reports of attacks targeting cloud-based storage services have risen, reflecting the adaptive nature of these threats. As strategic and internet-enabled thefts grow in prevalence, they emphasize the need for companies to invest in advanced security measures and robust risk management practices to protect their operations.
Key findings of the 2024 Report:
- Food and beverages were most frequently stolen - 22%
- 76% involved trucks, including 21% hijackings and 20% theft of vehicles
- Nearly half occurred when cargo was in transit
- Theft from facilities was down from a quarter in 2023 to 18%
- Hotspots included Brazil, Mexico, India, USA, Germany, Chile and South Africa
- ‘Strategic’ theft was the standout growth trend
- Internet-enabled crime also continues as a significant facilitator.
While the report’s statistical analysis of cargo theft types and top commodities stolen year on year is revealing, it is the qualitative information and insight into the methods used by criminals that is most useful in combatting theft.
As Tony Pelli, Global Practice Director for Security & Resilience at BSI Consulting, said “The growth in strategic crime, defined as that utilizing deception, fraud, and advanced planning, is the most remarkable finding in our report. This weapon in the criminals’ ever-evolving armory now involves impersonation and document forgery as well as leveraging AI technologies to manipulate bills of lading and orchestrate remote operations. The degree of sophistication employed shows that organised crime’s knowledge of supply chain vulnerabilities is deepening.”
This strategic methodology was particularly noted in the US where 18% of all incidents were identified as strategically planned thefts. Indeed, one of the report’s detailed case studies itemises an organised crime’s campaign of theft from railcars in California and Arizona using such tactics. Elsewhere case studies help cargo owners and transport operators put real-life flesh on the statistical bones; including metal theft in South Africa, pharmaceuticals targeted in India, violent hijackings in South America and theft from trucks on the move (so-called ‘rollover’ theft’) prevalent in Europe.
On behalf of TT, Mike Yarwood, Managing Director, Loss Prevention comments, “Our prime focus is to inform, providing actionable insight to assist with risk mitigation. In this regard, it is vital to track current trends in criminal activity. The burgeoning use of the internet, though available for nefarious action for some years, is constantly spawning new technologies and should not be overlooked. Techniques such as harnessing AI to create phishing emails, deep fakes, and malware aimed at accessing sensitive freight information and reports of attacks targeting cloud-based storage services are becoming more common.”
“If it is too good to be true, then it probably is” – is the essence of the sound advice offered by BSI Consulting and TT to those in the supply chain open to the risk of theft. In a concluding section of the report there is a comprehensive list of strategies to employ in risk mitigation, in particular to protect assets from theft. They range from care over the security of email and other electronic communication to screening and vetting of third-party contractors; also from monitoring and response through reliable tracking services to keen awareness of alterations to regular delivery and pick-up locations.
“Above all,” emphasises Yarwood, “An overarching strategy to protect against cargo loss must be based on robust due diligence. To know and trust as much as possible customers, carriers and contractors alike and to be cognisant of the criminals’ intent and level of cunning.”
The 2024 Cargo Theft Report is available for download:
Source: TT Club
