CargoNet, a Verisk business specializing in cargo theft prevention and recovery, has issued an advisory to the logistics industry regarding the increased risk of cargo theft activity during the upcoming Labor Day Holiday Week.
In a comprehensive analysis of supply chain risk events over the past five years, CargoNet said it has identified concerning patterns that demand immediate attention from industry professionals. The study, which examined 179 incidents occurring between the Thursday before Labor Day and the Wednesday after, reveals what CargoNet called "a landscape of heightened vulnerability for cargo during this holiday period."
The company said its data paints a clear picture: theft incidents peak on the Friday preceding Labor Day. This trend suggests that loaded conveyances, left unattended as workers begin their holiday weekend, become prime targets for opportunistic thieves. The risk is further compounded by the fact that many of these thefts may go unnoticed until business resumes after the holiday.
CargoNet's findings indicate that theft activity hit record levels in 2022 and maintained this elevated state through 2023. Geographically, the states of California, Texas, and Florida emerged as hotspots for criminal activity. Drilling down to the county level, San Bernardino and Los Angeles in California, Dallas in Texas, and Cook in Illinois were identified by CargoNet as the most frequently targeted areas. This information is crucial for logistics companies operating in or through these regions to enhance their security measures accordingly, said a statement from CargoNet.
High-value electronics such as televisions and displays, major appliances, computers and computer parts, and vehicle maintenance products like motor oils topped the list of most sought-after items. Warehouses, truck stops, and large retail parking lots, rather than truck yards, were found to be the most common sites for these thefts.
Despite the rising sophistication of cargo theft operations, CargoNet's data shows that traditional cargo or conveyance thefts still outnumber complex fraud schemes, even in 2023. CargoNet cautions the industry that cargo thieves are increasingly savvy and well aware that extended holiday closures often work to their advantage. Logistics professionals are strongly urged to remain vigilant and implement enhanced security protocols during the Labor Day holiday week.
The Labor Day holiday analysis period consists of the Thursday before Labor Day to the Wednesday after Labor Day, 2019-2023.
Noteworthy thefts from previous Labor Day holidays included:
- $1,088,983 in seafood stolen from Sioux City, Iowa
- $800,000 in footwear stolen from Memphis, Tennessee
- $713,000 in apparel and accessories stolen from Eastvale, California
- $500,000 in air purification machines stolen from North Las Vegas, Nevada
- $439,484 in hair dryers stolen from Ontario, California
