Fewer Incidents, Higher Stakes: Cargo Theft Losses Reach US$230 Million in Three Months

Source: Verisk CargoNet

Cargo crime is declining across Canada and the United States, but the financial toll continues to rise.

Verisk CargoNet recorded 547 supply chain crime incidents during the third quarter

of 2026, down 33% from the same period last year. Estimated losses nevertheless climbed 12% to US$230.1 million.

High-value shipments drive losses

Through September, estimated losses reached US$718.9 million—a 39% increase over the first nine months of 2025.

CargoNet recorded 19 thefts involving documented values of at least US$1 million during the third quarter, compared with nine a year earlier. Many involved expensive electronics and materials destined for data centres.

Deceptive pickups remain a challenge

Fictitious pickups accounted for approximately one-quarter of reported incidents, up from 18% a year earlier. These cases declined just 6%, considerably less than overall incident activity.

Food and beverages remained the most frequently targeted commodity category. California, Illinois, New Jersey and Texas together accounted for 57% of quarterly incidents.

For the trucking industry, the figures show that fewer reported incidents do not necessarily mean lower financial risk.

Source: Verisk CargoNet, November 4, 2026 company announcement.