Increased Risk of Cargo Theft During Memorial Day Weekend
Supply chain professionals need to be extra vigilant during the upcoming Memorial Day weekend as cargo thieves are expected to take advantage of extended business closures. According to CargoNet, a Verisk business, there has been an average of 29 theft events per year during Memorial Day weekend over the past five years, with stolen cargo valued at an average of $264,016 per event. The statistics reveal a concerning trend of increasing cargo theft, with 16 theft events reported in 2022 rising to 40 events in 2023. Thieves have primarily targeted food and beverage items, household items, and electronics during these theft events.
Rise in Sophisticated Cargo Theft Schemes
CargoNet has noted a sharp increase in highly technical shipment misdirection fraud schemes across the United States. The organization has reported record-breaking numbers of fictitious pickup and fraud complaints, with California being identified as the most at-risk state. California has reported 43 incidents, nearly double the number of reported incidents in the second most at-risk state, Texas, with 22 incidents. The rise in misdirection fraud highlights the need for industry professionals to be alert and cautious of unauthorized attempts to divert shipments from their intended receiver.
Protecting Against Cargo Theft
To safeguard against cargo theft, logistics brokers should implement enhanced carrier qualification practices, including verifying the registered FMCSA phone number or email, monitoring FMCSA SAFER for recent MCS-150 form updates, and checking for established, positive load history before accepting a bid on a shipment. Shippers should also enhance sign-in procedures to capture essential information about the truck and driver picking up a shipment. By remaining vigilant and implementing these security measures, supply chain professionals can help prevent cargo theft during the busy Memorial Day weekend and beyond.