BSI Consulting and TT Club have issued their 2024 Cargo Theft Report, examining key trends and practices surrounding cargo theft.
2024 cargo theft trends overview
According to the report, the 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%.
Methods and locations of theft
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.
Global hotspots
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.
Rise of strategic thefts
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 and AI misuse
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.
Call to action: strengthening supply chain security
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.
