TORONTO, Ont. – Fleets and drivers are expected to watch over the cargo in their care, but about two-thirds (69%) of those surveyed by Today’s Trucking do not feel their loads are completely secure against cargo theft.

Almost one third (34%) of respondents say they have already lost a vehicle or load to thieves.

Forty-five percent of those who participated in the monthly Pulse Reader Survey say targeted cargo thefts are the biggest security threat. Twenty-three percent believe crimes of opportunity are the biggest threat, followed by inside jobs (selected by 18% of respondents), and cyber crime such as data breaches and computer viruses (14%).

GPS tracking was identified as the most popular tool to protect against cargo theft, with 66% of respondents identifying that among their top three strategies. Rounding out the top five strategies were physically fenced parking (44%), security cameras (40%), secure warehouses and docks (34%), and employee screening and background checks (32%).

The Greater Toronto Area now has the highest rate of cargo theft in Canada, rivaling major U.S. centers. Research by the Canadian Trucking Alliance and insurers suggests the crime across Canada costs about $5 billion a year.

A typical cargo theft is now valued at about $196,000, with more than $500,000 in goods disappearing every day in the Toronto area alone. That rivals numbers seen in crime capitals like Los Angeles, Dallas and Miami.

Organized crime syndicates are believed to be a major source of cargo theft in Canada.