Law Enforcement’s 3 Must-Know Details for Stolen Asset Recovery

Every year, asset theft costs rugged industries billions of dollars. Research from the National Equipment Register (NER) estimates that $300 million to $1 billion in heavy equipment is stolen every year in the construction industry—and that doesn’t include tools and building materials. Wheeled and tracked loaders followed by towables are some of the most coveted items. Unfortunately, a mere 25% is recovered.

The problem is not unique to construction equipment or non-powered equipment like cargo, where the value of one can be far greater than another. Consider news from transportation, where cargo theft increased by 33% in the second quarter of 2024 compared to the previous year according to the Transportation Intermediaries Association.

The Law Enforcement Wishlist: Must-Have Data in Your Recovery Plan

Recovering stolen assets isn’t easy, but certain elements can significantly improve success rates. Since recovery itself has a cost, your mission is to eliminate expensive, manual processes as much as possible to put time on your side.

An established partnership with local law enforcement is prudent for coordination and collaborative decision-making in the immediate aftermath. Visualization of the site’s operations and boundaries should be readily available to easily pinpoint and report on:

1. Precise location data: Knowing the last known location of an asset can dramatically expedite recovery. Geoforce’s asset location history can help pinpoint exact locations and movement patterns for theft intervention and asset retrieval.
2. Asset identification information: Serial numbers, photos, and detailed descriptions make it easier to verify ownership. Without proper identification, law enforcement struggles to differentiate stolen equipment from legally owned assets. With Geoforce, users can store and track equipment serial numbers, photos and detailed descriptions in a mobile-enabled software platform.
3. Geofence Alerts: Early notification increases the chances of recovery since stolen assets are often moved quickly. Delayed notification gives thieves a significant head start. By mobilizing geofences in the Geoforce platform, users are notified as soon as an asset leaves an authorized location to trigger immediate action.

While recovery is critical, prevention is the overall goal. Creating a partnership for prevention with local law enforcement further strengthens operational security through shared knowledge. The last thing you want to do is unintentionally make it harder for law enforcement to assist by having cumbersome and lengthy processes to retrieve vital information amid a high-stakes incident.

Instead, you want to protect your investments by taking a proactive approach that deters theft and recovers quickly if necessary. This was the case with a Geoforce customer in the oil and gas industry whose field operator quickly provided law enforcement with the GPS tracker’s location data to recover a piece of equipment valued at over $50,000. The tracker’s durability and consistent updates ensured the asset was found and returned back to the job site.

Deterring Theft with Geoforce Asset Trackers

Geoforce’s rugged GPS hardware and software solutions not only assist in recovering stolen assets but also act as a deterrent. Visible GPS trackers and proactive alerts signal to potential thieves that stealing your equipment is a risky endeavor. Comprehensive visibility of tracker data provides:

• Near real-time tracking: Geoforce provides asset location updates at regular intervals, allowing you to monitor equipment and identify suspicious activity promptly.
• Geofencing alerts: By creating virtual boundaries around key locations and sharing that information with law enforcement as part of your site plan, you strengthen relationships. If an asset moves outside a designated area, Geoforce triggers an alert, enabling swift action from internal and external resources.
• Comprehensive reporting: Geoforce’s platform generates detailed reports that include recent location history and geofencing activity. These reports are invaluable to law enforcement when tracking and recovering stolen assets.

Data-driven Theft Prevention

Stolen asset recovery requires a blend of preparation, technology, and collaboration. By equipping your assets with Geoforce’s rugged GPS hardware and software, you’re empowering your business and law enforcement to act swiftly and effectively. Don’t wait until theft happens to take proactive steps to protect your valuable equipment.

Book a demo today to see how Geoforce can help secure your assets.