July 4th Holiday Cargo Theft Trends and Security Tips from CargoNet, a Verisk Business

Rhea-AI Summary

CargoNet, a Verisk (Nasdaq:VRSK) business, warns that extended Fourth of July closures present risks for cargo theft. An analysis revealed 130 theft events across 27 states over the holiday from 2015 to 2019, predominantly in Texas, California, and Florida. This year, a quarter of thefts occurred on the Friday of the holiday. Estimated losses reached $5.9 million, averaging $128,416 per incident. CargoNet advises professionals to avoid high-theft areas and secure facilities to mitigate risks.

Positive

• CargoNet's analysis provides valuable data on theft trends to help supply chain professionals.
• Recommendations for securing cargo can potentially reduce theft incidents.

Negative

• An estimated $5.9 million in cargo was stolen during the holiday period.
• High-theft areas identified may increase vulnerability for supply chain operators.

Jersey City, New Jersey, June 29, 2020 (GLOBE NEWSWIRE) -- Supply chain professionals are looking forward to a much-deserved extended weekend during the Fourth of July holiday. However, CargoNet®, a Verisk (Nasdaq:VRSK) business, reports that that extended business closures can create an advantageous operating environment for cargo thieves. For the past five years, the firm has analyzed cargo theft data in the United States and Canada from July 1 to July 7and found 130 cargo theft events in 27 different states, with theft most common in Texas, California and Florida.

This year’s study found that a quarter of theft events occurred on the Friday of the holiday weekend, contrary to 2018 when most theft events were reported to have taken place on Thursday, July 4. Cargo thieves targeted shipments of food and beverage products, household goods, and mixed shipments of less than truckload (LTL) freight and general merchandise. The study estimates $5.9 million in cargo was stolen with an average value of $128,416 per theft.

To help prevent theft, supply chain professionals should avoid leaving cargo unattended in high-theft areas such as Los Angeles, Dallas–Fort Worth, Chicago, Atlanta, NYC Metro and Miami. Should truckers need to leave their cargo unattended, they should consider parking in high-security locations with active security services, secure fences, and high-visibility lighting.

Additionally, CargoNet's data shows that over the past five years, several sophisticated warehouse burglaries of desirable items like computers, cell phones, and fragrances occurred in Miami metro, Las Vegas metro, and northern New Jersey over the Fourth of July holiday. Operators should consider making sure facilities are alarmed and to treat every alarm activation as an actual break-in, as some burglary crews may purposely trip the alarm multiple times to make authorities and facility operators think the system is malfunctioning.

Noteworthy thefts from previous July 4^th holidays

• $2,000,000 of perfume from Hillsborough Township, New Jersey
• $444,000 of copper cables from Long Beach, California
• $328,321 of toys from Trevor, Wisconsin
• $270,000 of jeans from Blacksburg, South Carolina
• $259,878 of hard drives and server chassis from Norcross, Georgia
  
  Click here for July 4th theft trends and security tips infographic.
  
  
  

For more information, contact:
Brett Garrison
Edelman (for CargoNet)
212-639-4903
Brett.Garrison@edelman.com

FAQ

What were the cargo theft estimates for the Fourth of July holiday from CargoNet?

CargoNet estimated $5.9 million in cargo was stolen during the Fourth of July holiday with an average value of $128,416 per theft.

Which states reported the most cargo theft incidents during the Fourth of July?

Texas, California, and Florida were the states with the most cargo theft incidents during the Fourth of July holiday.

What days are most common for cargo thefts during the Fourth of July period?

This year's study found that a quarter of theft events occurred on the Friday of the holiday weekend, contrasting with previous years.

What security measures does CargoNet recommend to prevent cargo theft?

CargoNet advises avoiding high-theft areas and suggests parking in high-security locations while ensuring facilities are alarmed.

How many cargo theft events were recorded by CargoNet during the last five years?

CargoNet recorded 130 cargo theft events across 27 states over the Fourth of July holiday from 2015 to 2019.