Cargo Theft Losses Top $304 Million as Criminals Target Higher-Value Freight

Cargo theft incidents declined during the second quarter of 2026, but the financial damage more than doubled as organized groups focused on exceptionally valuable shipments. Heavy Duty Trucking reported August 6 that Verisk CargoNet documented 677 theft incidents across the United States and Canada, down 26% from a year earlier and 14% from the first quarter.

Estimated losses nevertheless reached $304.6 million, compared with $135.7 million in the second quarter of 2025. Several multimillion-dollar cases involved industrial metals and enterprise technology. Metal thefts increased from 54 incidents a year ago to 80, with copper the most frequently stolen metal and additional activity involving aluminum, nickel, tungsten and other specialty products. Computer equipment, networking hardware and cryptocurrency-mining equipment also remained attractive targets.

CargoNet observed fewer thefts involving criminals who acquire legitimate carriers and then disappear with booked loads. Thefts of unattended trailers and containers also declined in several major hot spots. However, business-email compromise and shipment-misdirection fraud remained steady. A compromised email or transportation-management account can let criminals study load information, impersonate a trusted partner and redirect valuable freight without immediately triggering suspicion.

Fleets, brokers and shippers should treat the lower incident count as a change in tactics—not proof that risk is falling. High-value loads deserve verified pickup identities, independently confirmed routing changes, strong account security and documented trailer-seal checks. Drivers should call a known dispatch number before accepting an unexpected destination change and avoid sharing shipment details publicly. A smaller number of carefully selected thefts can create far greater losses than a broad wave of opportunistic crime.