Senate Bill to Repeal EPA Truck Emissions Rule Introduced Reported Cargo Thefts Increased 20% in 2022

The transportation sector experienced an estimated 20% jump in reported cargo thefts amid changing criminal tactics in 2022.

And the largest portion of that jump in thefts came in the fourth quarter.

A study by Verisk Analytics’ CargoNet showed that voluntarily reported “supply chain risk events” increased 15% year-over-year to 1,778 across the United States and Canada. But those events that involved the theft of cargo increased by 20%. The total loss value in 2022 was $223 million.

“What we’re seeing is different, it’s a generational change,” said Keith Lewis, vice president of operations at CargoNet. “We still see trailers stolen from the side of the road, but the fraud is really what drove our numbers up. We went from 16 fraudulent thefts in 2021 to 116 or so last year. It’s very complicated how they’re doing it. It’s so complicated that law enforcement has a hard time figuring it out. They’re using load boards and they’re using unsuspecting drivers.”

The CargoNet report also showed that events that involved theft of at least one heavy commercial vehicle increased by 17% year-over-year. It also noted increases in theft activity around major intermodal hubs were significant. The average value of cargo stolen in an event was $214,104.

“Load boards have been around forever,” Lewis said. “It’s just modern technology. We’re depending on machine-to-machine for vetting and we’re moving at light speed on the internet load boards. The process has been there forever of stealing loads off load boards. It’s with emerging technology that we have now, it enables them to do it better and faster.”

The report noted that supply chain disruptions were a main concern because of their effect on inflation. It added scarcity, and cost drove illicit market demand for goods that were most affected like computer graphics cards and raw meat.

Cornell noted that one way criminals attempt to get loads is by posing as a legitimate carrier and placing bids on load boards. But starting in the second half of last year he started seeing more criminals calling up brokers directly to pose as a legitimate carrier with available capacity. They might not even know if the carrier they picked has been vetted by the broker.

Cornell also noted there was a 31% increase year-over-year in cargo thefts in the fourth quarter. He usually anticipates some kind of a fourth-quarter bump with the holidays but noted that last year was significant and that theft activity entered the new year with more momentum.

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