Cargo thieves are increasingly targeting high value goods over basic freight, despite the increased level of planning needed to pull off a successful heist and the elevated consequences if they get caught, according to a study from Overhaul.
The simple reason driving this trend is that criminals have so much to gain, the Texas-based supply chain visibility and security firm said. “High-value goods such as electronics and pharmaceuticals can easily be sold on the black market for a sizable profit. Additionally, shippers often transport multiple high-value goods at once. This means the potential rewards are even greater via the theft of a single tractor-trailer,” Overhaul said. “In other words, rather than risk stealing several less valuable loads, they’ll often choose to go after a single, more valuable one.”
In its Q1-2024 theft report, Overhaul recorded 11 cargo theft events in the U.S. with a total value exceeding $1 million. That shows a steady progression from just a single such event during the first quarter of 2023, five events in Q2-2023, seven events in Q3-2023, and nine events in Q4-2023.
Electronics were the main product type targeted during the quarter, including seven events where thieves stole computers, monitors, cryptocurrency mining machines, and telecommunications equipment. Pharmaceuticals were targeted in two events, one involving medicine and the other involving nutritional supplements.
