• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

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

by May 10, 2025
written by May 10, 2025

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
0 comment
0
FacebookTwitterPinterestEmail

previous post
Denmark PM says ‘you cannot spy against an ally’ following reports of US spying on Greenland
next post
FBI Deputy Director Bongino: Illegal alien criminals and child predators are next in ongoing crackdown

related articles

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025

Trump says U.S. will impose new tariffs on...

September 29, 2025

Former Fed chairs warn that removing Lisa Cook...

September 27, 2025

Amazon to pay $2.5 billion to settle FTC...

September 27, 2025

The charm of watching movies in theaters is...

September 25, 2025

Ben & Jerry’s co-founder resigns, claiming parent company...

September 18, 2025

LimeWire acquires Fyre Festival, asking ‘What Could Possibly...

September 17, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • House Dems reintroduce reparations legislation: ‘We refuse to be silent’

    February 12, 2025
  • AI arms race: US and China weaponize drones, code and biotech for the next great war

    July 23, 2025
  • Campaign chairs say Biden is both ‘more committed than ever’ to presidential race and ‘asking for input’

    July 19, 2024
  • Moderate House Dems push for crackdown on noncitizens voting in US elections

    July 26, 2024
  • Trump warns Iran faces ‘violence like people haven’t seen before’ if nuclear deal fails

    May 15, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,247)
  • Investing (634)
  • Stock (935)

Latest Posts

  • Trump continues supporting Sen. Lindsey Graham’s re-election bid while phoning into Republican event

    August 11, 2025
  • Trump has a timeline in mind for Iran nuke deal, taps Israel to lead any potential military action

    April 10, 2025
  • What we know about the Trump administration’s plans for a sovereign wealth fund

    February 4, 2025

Recent Posts

  • Gunfire breaks out at Trump rally in Pennsylvania; 2 attendees hurt, shooter dead

    July 14, 2024
  • From CDC to labor secretary: See Trump’s top picks for Cabinet roles

    November 23, 2024
  • DOJ releases final violent crime numbers for Biden administration

    January 17, 2025

Editor’s Pick

  • Harris claims she ‘made clear’ her position on fracking in 2020 – transcript shows another story

    August 30, 2024
  • Harris concedes presidential race, campaign manager sends letter to staff: ‘Losing is unfathomably painful’

    November 6, 2024
  • ‘Due to overhelming support:’ Turning Point USA says Charlie Kirk merchandise could take up to 12 weeks

    September 22, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock