Fewer cargo theft studies didn’t imply smaller losses through the second quarter, in accordance with Verisk CargoNet’s evaluation. The intelligence community documented 677 incidents throughout the US and Canada. That whole fell 26% from Q2 2025. It additionally dropped 14% from the earlier quarter.
Estimated cargo losses nonetheless climbed to $304.6 million through the three-month interval. That determine greater than doubled the $135.7 million reported throughout Q2 2025. The typical reported commodity worth reached $564,009. A number of multimillion-dollar thefts involving metals and enterprise expertise closely influenced that common.
“Decrease incident quantity shouldn’t be mistaken for decrease threat,” Keith Lewis, Verisk CargoNet’s vp of operations, mentioned. “The teams driving the biggest losses are usually not essentially making an attempt to steal extra freight; they’re making an attempt to determine the proper cargo.” Lewis pointed to metals and enterprise expertise as areas attracting organized theft teams. These shipments can provide main worth and established resale alternatives.
One quarter doesn’t set up a pattern
Scott Cornell, EVP, Crime and Theft Specialist at SPG Cargo & Logistics and chair of TAPA Americas, mentioned the outcomes throughout a current BigRig interview. He described the lower as welcome information after years when theft exercise stayed elevated. Cornell additionally urged the trade to keep away from treating one quarter as proof of a broader shift. “It’s not going to be a pattern till we see it for possibly two or three quarters consecutively,” Cornell mentioned.
Cornell famous that cargo theft numbers have traditionally moved up and down. He mentioned current law-enforcement arrests might be contributing to the quarterly lower. These efforts included operations in New York, New Jersey, California and Canada, together with FBI and Homeland Safety circumstances. Cornell referred to as the outcomes from regulation enforcement and private-sector cooperation encouraging.
CargoNet’s information confirmed declines in bodily thefts involving loaded gear and non-delivery schemes. These schemes concerned dangerous actors buying established motor carriers, reserving freight beneath their working authority, then failing to ship it. California and Texas recorded notable reductions in that exercise. Theft classifications dropped from 488 occasions throughout Q2 2025 to 378 this yr.
Fictitious pickup incidents moved far much less, falling from 165 studies to 158. CargoNet additionally discovered regular exercise involving enterprise e-mail compromise and cargo misdirection. Compromised accounts can expose cargo particulars, contact directories and transportation-management instruments. Criminals can then impersonate trusted events or alter load info.
Metals and expertise drove severity
Steel theft elevated from 54 incidents throughout Q2 2025 to 80 this yr. Copper remained probably the most often focused steel. Aluminum, nickel, tungsten and different specialised supplies additionally drew elevated consideration. Cornell famous that CargoNet’s numbers positioned metals second amongst commodity classes, behind meals and beverage.
“Copper has been primary for 2 years now,” Cornell mentioned. “That’s the longest stretch I’ve ever seen on copper.” He added that firms shifting metals must decelerate and place stronger controls round these shipments. He described focusing on as a query of when, not whether or not, for a lot of steel hundreds.
CargoNet additionally recognized continued focusing on of enterprise laptop gear, networking elements and cryptocurrency mining {hardware}. These hundreds can carry multimillion-dollar values whereas shifting as standard dry freight. Meals and beverage thefts declined general, together with combined grocery merchandise and alcoholic drinks. Seafood thefts moved the opposite route, growing by 11 occasions.
Why It Issues: Decrease incident counts provide some constructive information, however $304.6 million in reported losses reveals the monetary publicity stays critical. CargoNet’s findings give brokers, carriers and shippers particular commodities and ways to observe extra intently.
For my part, the report reveals why fraud prevention can not sit with one individual or division. CFCO coaching helps groups construct constant verification round provider id, e-mail adjustments and cargo directions earlier than freight strikes. Fraud doesn’t beat sensible folks. It beats inconsistent processes.
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