Verisk CargoNet forecasts an escalating threat from organized criminal networks this Thanksgiving and the trucking and logistics industry should respond by stepping up vigilance and boosting security protocols, the company recommends.
Verisk CargoNet (NASDAQ: VRSK), which provides risk data and analytics to the insurance industry, saw a significant jump in incidents during last year’s holiday period, a trend that is expected to continue in 2025, the company’s data shows.
“Companies should verify the legitimacy of all carriers and freight brokers, secure vehicles and trailers in well-lit and monitored locations, and maintain communication with drivers throughout transit periods,” the company stated in an alert.
“Motor carriers should exercise particular caution when accepting loads involving high-value commodities or when conducting business with unfamiliar partners.
“The increased incident rates during holiday periods make this an especially critical time for rigorous security protocols.”
A five-year analysis of Thanksgiving week theft data shows theft incidents on the rise, according to the company’s data, with the 2024 analysis period recording 79 theft incidents, a 65% increase compared to 48 incidents in 2023. Only 29 incidents were recorded during the 2021 holiday period.
“The data demonstrates that criminal organizations consistently exploit the Thanksgiving holiday period, when shipment volumes increase and security staffing may be reduced,” the company stated. “Criminal activity typically intensifies in Q4 and reaches peak levels in December.”
Food and beverage shipments are at the highest risk of theft during the Thanksgiving holiday, according to the company, with 31 incidents recorded in the 2024 analysis. Thieves also targeted household products (24 incidents), electronics (19 incidents), and vehicles and accessories (14 incidents).
Data shows criminals also consistently target high-value items such as computers, alcoholic beverages, and automobile tires, during the holiday period, according to Verisk CargoNet. The commodity value of stolen goods during the company’s 2024 analysis period reached $9.5 million with an average theft value exceeding $151,500.
“Motor carriers should exercise particular caution when accepting loads involving high-value commodities or when conducting business with unfamiliar partners.”
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