Verisk: Cargo Theft over July 4 Holiday Week Has Escalated in Recent Years

Verisk CargoNet issued an advisory to the logistics industry warning of significantly increased cargo theft risk during the upcoming July 4th holiday week.

The firm typically issues such warnings ahead of holidays. Extended business closures can create favorable operating conditions for would-be cargo thieves.

Data from recent years shows cargo theft problem has escalated, according to Verisk.

The firm’s analysis of 184 cargo thefts occurring between July 1 and July 7 over the past five years shows the peak risk days are July 1 and July 3, with theft activity concentrated around extended weekend closures.

California, Texas and Illinois were the most targeted states. Prime cargo theft targets include non-alcoholic beverages, vehicle accessories, computer electronics and major appliances, according to Verisk.

Reports of direct cargo and vehicle theft outnumber reports of sophisticated fraud schemes, indicating a higher rate of direct-action theft during vulnerable periods, the firm’s findings show.

Notable July 4 holiday thefts include:

• $700,000 in e-cigarettes stolen from Eastvale, California
• $540,000 in apparel theft from Elk Grove Village, Illinois
• $439,895 in medical supplies from Davenport, Florida
• $352,000 in computer electronics from San Francisco, California
• $314,191 in computer electronics from Commerce, California