Cargo theft is running rampant through the supply chain.
CargoNet, a firm monitoring cargo theft, said 925 incidents occurred in the first three months of 2024. That's a 46% increase compared to the first quarter of 2023, and a 10% rise from the fourth quarter of 2023. CargoNet estimates $154.6 million worth of cargo was stolen during the first quarter of the year.
It's forecast that the upcoming long Memorial Day weekend will see a spike in cargo theft activity.
CargoNet suggests what can be done to reduce the likelihood of a shipment being stolen.
