Cargo theft has become an increasingly coordinated and sophisticated threat. In fact, 81% of respondents report it has become more organized in recent years, while 79% say their organization is more concerned about cargo theft today than ever before, according to a report released by SmartSense by Digi, part of Digi International.
“Cargo thieves have continued to escalate their tactics and expand their use of technology,” says Guy Yehiav, president of SmartSense by Digi. “Businesses need to evolve with it. New forms of instantaneous location tracking and visibility intelligence are needed to understand what normal movement looks like, identify anomalies quickly and act before suspicious activity turns into a multimillion-dollar loss.”
Key takeaways:
· 63% say cargo theft incidents have increased compared with last year;
· 81% say organized retail crime is a growing concern for their organization;
· 80% say that cargo theft incidents have led to lost sales for their organization;
· 40% report annual losses of at least $1 million due to cargo theft, and 28% report annual losses of more than $2 million.
· Fraudulent pickups and carrier impersonation (78%), GPS jamming and spoofing (71%), trailer theft (66%), and double brokering (64%) were ranked as top concerns
· 70% say their organizations are investing more this year in cargo theft prevention compared to last year.
· Just 37% of respondents say they regularly report incidents and work directly with law enforcement on investigations.
