The latest cargo theft numbers contain what looks like good news and turns out to be a warning. Verisk CargoNet recorded 677 cargo theft incidents across the United States and Canada in the second quarter of 2026. That is down 26% from the same quarter last year and down 14% from the first quarter. But estimated losses more than doubled, from $135.7 million to $304.6 million. The average theft with a reported value was worth $564,009.
Fewer thefts, much bigger losses. As Verisk CargoNet’s Keith Lewis put it, lower incident volume should not be mistaken for lower risk.
Thieves are targeting, not grabbing
The shift in commodities tells the story. Metals thefts rose from 54 incidents to 80, with copper the most targeted metal and increases in aluminum, nickel and tungsten. Enterprise computing and networking equipment, components and cryptocurrency-mining hardware were also targeted. Meanwhile, thefts of food, beverages, auto parts, tires, supplements and over-the-counter medicines declined.
In other words, the organized groups behind the largest losses are not taking whatever trailer is left unattended in a truck stop lot. They are identifying specific, high-value shipments and planning around them.
Fraud has become the front door
Classic straight theft, stealing a loaded trailer or breaking into one, fell from 488 incidents to 378 year over year. Fictitious pickups, where criminals pose as a legitimate carrier to collect a load, were essentially flat at 158, compared with 165 a year earlier. That means deception now accounts for a much larger share of the problem than it did a few years ago.
Strategic theft exploits the digital seams of modern freight: load boards, email, identity verification, and the speed at which brokers must cover loads. A thief who can impersonate a carrier, spoof an email domain or take over a legitimate MC number can walk away with a truckload of electronics without ever touching a lock.
Some regional good news
The report did show improvement in some of the traditional hot spots. Non-delivery schemes declined significantly, and CargoNet saw fewer non-delivery and physical thefts in California and Texas. Organized activity targeting unattended loaded equipment eased in South Florida and Dallas–Fort Worth. Those gains reflect real work by law enforcement task forces, carriers and shippers who have hardened their yards and routes. The challenge is that the criminals adapted, shifting from volume to value.
Seafood was a notable exception in the food category, rising by 11 events, a reminder that any high-value, easily resold commodity can become a target quickly.
Why it matters beyond the loss itself
I wrote last year that cargo theft had become a national supply chain threat. The cost does not stop with the stolen goods. Insurance premiums rise for everyone. Shippers add security requirements that slow tendering. Honest small carriers find it harder to get loads because brokers are understandably wary of new authorities. And the money often funds broader criminal organizations.
What carriers, brokers and shippers can do
- Verify identity, every time. Confirm carrier identity through trusted vetting tools, call back on known phone numbers rather than numbers in an email, and watch for recently changed contact details on an established MC number.
- Match the security to the value. High-value loads such as metals and IT equipment should travel with team drivers or no-stop plans, covert tracking, high-security locks and seals, and pre-arranged secure parking.
- Use real-time visibility. Trailer and freight-level tracking with geofencing and alerts for unexpected stops can shrink the window between theft and response from days to minutes.
- Tighten pickup procedures. Shippers should confirm driver identity, tractor and trailer numbers, and paperwork against what the broker provided before releasing freight.
- Train the people who answer the phone. Dispatchers, brokers’ carrier reps and shipping clerks are the front line against social engineering. Short, regular training on red flags, such as urgency, last-minute changes to pickup details and requests to move communication off normal channels, pays for itself quickly.
- Report incidents. Underreporting makes the problem look smaller than it is and weakens the case for enforcement resources.
Policy is starting to catch up
The House highway reauthorization bill, the BUILD America 250 Act, includes steps to address freight fraud and tougher entry requirements for brokers and motor carriers to screen out bad actors. Those measures will help. But identity verification across the freight ecosystem, from FMCSA registration to load boards to the shipper’s dock, is where the real gap remains. The technology to verify who is picking up a load exists; the industry needs to make using it the norm rather than the exception.
There is also a link to the parking problem that rarely gets discussed. Drivers who cannot find secure parking near the end of their hours end up on ramps, shoulders and unlit lots, which are exactly the places where straight theft happens. Investment in secure, well-lit and monitored truck parking is a theft-prevention strategy as much as a driver-welfare one.
Cargo theft has moved from a parking-lot crime to an information crime. Our defenses need to make the same move.