Cargo theft losses more than doubled to $304.6 million in the second quarter even as incidents fell 26%
Organized groups are stealing fewer loads but choosing more valuable ones, especially copper and other metals and enterprise technology. The average stolen load was worth $564,009, according to Verisk CargoNet.
Article summary
- Why it matters: Fewer thefts but much bigger losses means criminals are choosing their targets. For procurement teams buying high-value goods, from copper and electronics to IT hardware, the risk is concentrated in exactly the shipments that are hardest to replace quickly.
- What to do first: Flag high-value shipments. Require enhanced security for loads above a value threshold.
- Verify carriers at pickup, not just booking. Confirm the driver and truck match the booked carrier.
- $304.6M
- cargo theft losses in Q2 2026, U.S. and Canada
- 677
- theft incidents, down 26% year over year
- $564,009
- average reported value per theft
- 54 → 80
- metals theft incidents, year over year
On this page
The details
Verisk CargoNet recorded 677 supply chain theft incidents across the U.S. and Canada in the second quarter of 2026, down 26% from a year earlier and 14% from the first quarter. Losses more than doubled, to $304.6 million from $135.7 million. The average reported value of stolen goods was $564,009.
What’s being targeted:
| Category | Trend |
|---|---|
| Metals (copper, aluminum, nickel, tungsten) | Up from 54 to 80 incidents year over year; copper is the main target |
| Enterprise technology | Organized groups continue targeting computer, networking and crypto-mining equipment |
| Food and beverage, auto parts, tires, supplements, OTC medicines | Declining |
How thefts are happening. Thefts of loaded trailers and ocean containers declined. Business email compromise and shipment misdirection held steady. Non-delivery fraud tied to recently acquired motor carriers declined.
“Lower incident volume should not be mistaken for lower risk,” said Keith Lewis, vice president of operations at Verisk CargoNet. He said the groups behind the largest losses are trying to identify the right shipment rather than steal more freight.
The longer trend. A year earlier, in the third quarter of 2025, CargoNet recorded 772 incidents and record losses of $111.88 million, with an average of $336,787 per theft. Copper thefts rose nearly fivefold then, and CargoNet warned that criminals were impersonating carriers and brokers to get around anti-fraud tools focused on the tender stage.
Where theft concentrates. CargoNet’s third-quarter 2025 report showed the geographic pattern behind the losses: thefts rose 110% year over year in New Jersey, 33% in Pennsylvania, 12% in Texas and 11% in California. “The NYC metro area is emerging as both a primary location for theft activity and a destination for stolen goods,” Lewis said then. Food and beverage led by count, with 170 events, followed by household goods with 92 and metals with 65; meat and seafood thefts nearly tripled.
Two playbooks. CargoNet described organized groups splitting into two approaches. Some have dropped complex schemes in favor of stealing unattended loaded trailers, especially in Southern California, the Bay Area, Phoenix and Lake Tahoe. Others are refining social engineering, gathering details on assigned carriers and broker contacts and then impersonating them to get around anti-fraud tools that focus on the tender stage, including by using public load board data.
What drove the average up. CargoNet attributed the $564,009 average to several multimillion-dollar thefts of high-value shipments, according to FleetOwner. Lewis said organized cargo theft closely tracks “value, demand, and resale opportunity.” Metal thefts rose about 48%, and copper led alongside aluminum, nickel and tungsten. Theft of protein products also declined. Verisk CargoNet supported a Manhattan District Attorney indictment in June in a $5 million cargo theft ring that impersonated legitimate companies, and Trucker Path added CargoNet’s theft risk data to its navigation app so drivers can avoid high-risk areas.
Fewer thefts, much bigger ones
The figures imply a sharp change in what each theft is worth. A 26% drop to 677 incidents means about 915 in the second quarter of 2025, and $135.7 million across those works out to roughly $148,000 per incident. This year’s average of $564,009 is close to four times that. Against the first quarter, a 14% decline implies about 787 incidents. These are our calculations from CargoNet’s figures.
For procurement teams, the shift matters more than the totals. A thief who steals fewer, more valuable loads is selecting shipments, and selection depends on information: what is on the truck, who is carrying it and when it moves. That makes shipment data and carrier identity, not parking-lot security, the main controls.
Security proportional to value
| Load value | Suggested controls |
|---|---|
| Standard | Vetted carriers, confirmed pickup details, seal numbers on the bill of lading |
| Elevated (for example above $100,000) | Approved-carrier list, real-time tracking, no unattended stops in the first few hundred miles |
| High (for example above $250,000, or targeted goods such as copper or IT hardware) | Named carriers only, team drivers or secure parking, identity check at pickup, covert trackers |
The thresholds are illustrative; set your own with your risk and insurance teams.
Which purchases are most exposed
| You buy | Why it’s a target | Extra controls |
|---|---|---|
| Copper wire, cable and metals | High resale value, hard to trace | Verified carriers, tracking, no unattended trailers |
| Servers, networking and IT hardware | High value per pallet | Secure routing, signature and identity checks at pickup |
| Pharmaceuticals | Resale risk and patient safety | Chain-of-custody controls and temperature monitoring |
| Food and beverage | Large volumes | Standard controls; risk declining but still common |
This is our assessment based on CargoNet’s data.
What procurement teams should do
- Flag high-value shipments. Require enhanced security for loads above a value threshold.
- Verify carriers at pickup, not just booking. Confirm the driver and truck match the booked carrier.
- Lock down shipment details. Limit who sees load information and confirm any change through a known contact.
- Check insurance and liability. Know what carrier cargo insurance covers and what your own policy covers above it.
- See our coverage of how fake brokers divert loads.
What to watch next
- CargoNet’s third-quarter 2026 report, expected in the fall.
- Holiday peak season, historically a high-risk period.
- Metals prices, since higher copper prices increase the incentive to steal it.
The bigger picture
Cargo theft has become a selection business: fewer, more targeted, more valuable thefts. Shippers and procurement teams need security proportional to value, built into carrier contracts and shipping processes rather than left to the carrier alone.
Questions procurement teams are asking
How much cargo was stolen in the second quarter of 2026?
Verisk CargoNet recorded 677 theft incidents across the U.S. and Canada with $304.6 million in losses, up from $135.7 million a year earlier, even though incidents fell 26%.
What cargo is most targeted by thieves in 2026?
Metals, especially copper, along with aluminum, nickel and tungsten, and enterprise technology such as computer, networking and cryptocurrency mining equipment.
How much cargo was stolen in the U.S. and Canada in the second quarter of 2026?
Verisk CargoNet recorded 677 theft incidents with losses of $304.6 million, more than double the $135.7 million a year earlier, even though incidents fell 26%. The average reported loss was $564,009.
What goods are cargo thieves targeting in 2026?
Metals, especially copper, and enterprise technology such as computer, networking and crypto-mining equipment. Thefts of food and beverage, auto parts, tires, supplements and over-the-counter medicines declined.
How we reported this
This story draws on 2 sources, listed below, and reflects figures as reported on August 10, 2026. The sections on why it matters and what procurement teams should do are Procurement Signal analysis. It is not legal or financial advice. See our editorial standards.
