• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Cargo thieves are attacking the U.S. supply chain at alarming rates
Editor's Pick

Cargo thieves are attacking the U.S. supply chain at alarming rates

by May 10, 2025
by May 10, 2025 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

America’s supply chain is under attack.

From coast to coast, organized criminal groups are hitting trucks on the road, breaking into warehouses and pilfering expensive items from train cars, according to industry experts and law enforcement officials CNBC interviewed during a six-month investigation.

It’s all part of a record surge in cargo theft in which criminal networks in the U.S. and abroad exploit technology intended to improve supply chain efficiency and use it to steal truckloads of valuable products. Armed with doctored invoices, the fraudsters impersonate the staff of legitimate companies in order to divert cargo into the hands of criminals.

The widespread scheme is “low risk and a very high reward,” according to Keith Lewis, vice president of Verisk CargoNet, which tracks theft trends in the industry.

“The return on investment is almost 100%,” he said. “And if there’s no risk of getting caught, why not do it better and do it faster?”

In 2024, Verisk CargoNet recorded 3,798 incidents of cargo theft, representing a 26% increase over 2023.

Total reported losses topped nearly $455 million, according to Verisk CargoNet, but industry experts told CNBC that number is likely lower than the true toll because many cases go unreported. Numerous experts who spoke to CNBC estimate losses are close to $1 billion or more a year.

Train cargo thefts alone shot up about 40% in 2024, with more than 65,000 reported incidents, according to the Association of American Railroads.

Industry experts and law enforcement officials say a more sophisticated and insidious form of cargo theft called strategic theft is also on the rise.

The way the system is supposed to work is this: A shipper pays a broker, and the broker, after taking its fee, pays the carrier, the trucking company that moves the load.

In strategic theft, criminals use deceptive tactics to trick shippers, brokers or carriers into handing cargo or legitimate payments, sometimes both, over to them instead of the legitimate companies.

This post appeared first on NBC NEWS
You Might Also Like
  • Starbucks announces several changes, including plans to cut some menu items
  • ‘Wicked’ tallies $19M in previews, as ‘Gladiator II’ team-up heads for $200M opening weekend
  • Delta Airlines cancellations and delays continue but worst of IT outage impact is over, CEO says
  • Small businesses are still hungry to hire, but many workers eye better pay elsewhere
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Where the Market Goes Next: Key Resistance Levels + Top Bullish Stocks to Watch Now

You may also like

Thousands of autoworkers at Toyota, Honda and others move to...

December 1, 2023

Credit card balances spiked in the third quarter to a...

November 8, 2023

Orlando debuts self-driving shuttle that will whisk passengers around downtown

August 18, 2023

Netflix secures U.S. rights to the FIFA Women’s World Cup...

December 22, 2024

Amazon set to pass Walmart in revenue for first time

February 6, 2025

Ulta Beauty CEO outlines plans to boost sales after first-quarter...

June 2, 2024

Consumers choose their favorite retailers ahead of the holidays: Nike,...

October 24, 2024

Citigroup to lay off 20,000 employees in CEO Jane Fraser’s...

January 13, 2024

Lara Trump to host weekend show on Fox News

February 6, 2025

Millennials reimagine retirement: ‘The end game might not be …...

February 4, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Cargo thieves are attacking the U.S. supply chain at alarming rates

      May 10, 2025
    • Where the Market Goes Next: Key Resistance Levels + Top Bullish Stocks to Watch Now

      May 10, 2025
    • Recession Ahead? Sector Rotation Model Warns of Rising Risk

      May 10, 2025
    • Investment Portfolio Feeling Stagnant? Transform Your Path Today

      May 9, 2025
    • Confused by the Market? Let the Traffic Light Indicator Guide You

      May 9, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,634 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,322 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,067)
    • Investing (538)
    • Stock (2,536)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Cargo thieves are attacking the U.S. supply chain at alarming...

      May 10, 2025
    • Where the Market Goes Next: Key Resistance Levels + Top...

      May 10, 2025
    • Recession Ahead? Sector Rotation Model Warns of Rising Risk

      May 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,067)
    • Investing (538)
    • Stock (2,536)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Gold jumps to record above $2,460...

    July 17, 2024

    From Chili’s to burger chains, here...

    December 16, 2024

    U.S. judge finds Google holds illegal...

    April 18, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here