Top 5 Trends in Property Crime for 2024

In 2023, commercial businesses saw a spike in cargo theft and auto part theft, more namely, catalytic converters and CPC modules. As 2024 unfolds, the landscape of security threats continues to evolve. Whether criminals are trying different techniques or targeting new assets, these rising property crime trends have proven to keep business owners on their toes.

As you come into the year ahead, how will your business combat unique physical security threats and safeguard your assets? A proactive approach will not only protect your property but ensure you maintain a pristine reputation and operate smoothly, so you can focus on revenue-generating activities.

Here are the top five property crime trends we anticipate seeing in 2024:

1. Fraudulent Pickups

Fictitious pickups have been a notorious cargo theft tactic over the years, but it is gaining popularity among other industries in the new year. In an effort to steal assets without the crime being traced back to them, criminals are using fraudulent identification to accept shipments and ‘rent’ equipment or cars.

To mitigate the risk of losing your assets to fictitious pick-ups and rentals, ensure your employees are well-trained in identifying fraudulent identifications.

2. Shipment Misdirection

One trend that gained traction during the latter half of 2023 involved criminals changing the flow of products, so they can be intercepted. How are thieves able to pull off such a scheme? They are posing as carriers and logistics brokers.

Once criminals gain trust as a ‘carrier’ or ‘broker’, they can alter the shipping destination to a location where the freight can be accepted by their counterparts. Due to the intricacies of this theft tactic, criminals often operate in strategic theft rings.

3. Insider Theft

External theft is relatively easy to recognize – cuts in your fence line, stolen equipment, vandalized property, etc. However, when your employees are stealing from you, the signs could go unnoticed for months, causing irreparable damage to your business. 

According to Statistic Brain, employee theft costs businesses nearly $50 billion annually.  

In today’s digital age, insider theft poses a serious threat to the security of your business. Whether it comes in the form of distributing access codes to unauthorized users or sharing confidential client information, the risk of insider theft should not be taken lightly. 

For tips on preventing this rising theft trend, check out this blog.

4. Pilferage

Cargo theft continues to threaten the supply chain, with criminals discovering unique theft tactics along the way. One method that we foresee gaining popularity in the new year is pilferage.

When criminals pilfer through cargo, they take small amounts from each container, hoping to go unnoticed. Pilferage is an attractive cargo theft method to thieves because if done meticulously, the missing cargo could go overlooked until a specific shipment doesn’t reach its destination.

Unlike shipment misdirection, pilferage is typically carried out by local criminals as opposed to organized crime rings.

5. Metal Theft

The rising trend of metal theft in commercial properties has become a significant concern in recent years, and we predict continuous growth for 2024. Thieves notoriously target valuable metals such as copper, aluminum, and bronze from construction sites, industrial facilities, and vacant buildings. The increasing demand for these metals in global markets, coupled with their high resale value, has fueled this criminal activity. 

Although this isn’t a new trend, we predict that criminals will be targeting metals in assets and industries you may not be expecting in 2024, making a comprehensive security plan important.  

Is your business prepared for the expected theft trends of 2024? 

Get in touch with your local perimeter security expert for your FREE threat assessment today. One of our experts will assess your property, look for vulnerabilities, and help you develop a comprehensive perimeter security plan to safeguard your assets in the new year.