Cargo Thieves Earn More While Working Less, Industry Report Reveals

Estimated cargo theft losses reached $230.1 million in the third quarter of 2026, a 39% increase from the same period last year, even as the number of reported incidents declined sharply, according to Verisk CargoNet.

Fewer incidents, higher losses

Verisk CargoNet recorded 547 supply chain crime incidents across the United States and Canada from July through September. That represented a 33% year-over-year decline and a 19% decrease from the second quarter.

Despite the lower incident count, thieves continued targeting fewer shipments with substantially higher values. CargoNet reported that the average theft value increased 72% year to date, highlighting the growing financial impact of organized cargo crime.

Fictitious pickups remain a major threat

Fictitious pickups accounted for roughly one in four reported supply chain theft incidents during the quarter. In these schemes, criminals use false identities or impersonate legitimate carriers and drivers to obtain shipments before diverting the cargo.

Organized theft networks are also combining identity fraud, carrier impersonation and weaknesses in freight verification to intercept and redirect high-value loads.

High-value freight draws attention

Data center materials were among the commodities attracting increased attention from cargo thieves. The trend reflects a broader focus on high-value freight rather than a larger number of lower-value shipments.

“We’re seeing criminals combine digital deception with traditional theft tactics to identify, intercept and redirect high-value shipments,” CargoNet’s Lewis said. “Data center materials are among the valuable commodities attracting attention. As the value of the cargo being targeted increases, strong identity verification, shipment visibility and communication across the supply chain become even more important.”

Supply chain security remains critical

The third-quarter figures show that a decline in reported theft incidents does not necessarily translate into lower losses for shippers, carriers or insurers. CargoNet’s findings point to the continued importance of verifying identities, maintaining shipment visibility and strengthening communication among all parties handling high-value freight.