Cargo theft incidents declining, yet loss value just keeps climbing
The recent trend of declining numbers of reported cargo theft incidents coupled with rising cost impacts of those thefts kept up in the second quarter, according to theft recording firm Verisk CargoNet.
The firm documented 677 supply chain theft incidents across the United States and Canada in the second quarter, a 26% decline from Q2 2025 and 14% decrease from the prior quarter.
Yet total estimated cargo losses more than doubled year over year, reaching $304.6 million in Q2 2026, up from $135.7 million in Q2 2025.
“Lower incident volume should not be mistaken for lower risk,” said Keith Lewis, vice president of operations at Verisk CargoNet. “The groups driving the largest losses are not necessarily trying to steal more freight; they are trying to identify the right shipment. Their focus on metals and enterprise technology shows how closely organized cargo theft now follows value, demand and resale opportunity.”
CargoNet’s analysis indicated that the decline was driven in part by fewer non-delivery schemes, where malicious actors acquired existing, reputable motor carriers, booked shipments under those companies’ established operating authorities and reputations, and picked up freight with no intent to deliver it. (For all the storm and stress this summer for some legitimate carriers hitting roadblocks with the Federal Motor Carrier Safety Administration’s new Motus registration system, perhaps beefed-up access protections there are doing as hoped and keeping bad actors out.)
[Related: FMCSA suspends USDOT-number deactivations as Motus issues mount for carriers]
CargoNet also recorded fewer organized thefts of unattended, loaded trailers and ocean containers.
The reductions were especially apparent in California and Texas, where theft schemes involving business email compromise or shipment misdirection remained comparatively stable, while this form of non-delivery activity declined significantly. Verisk CargoNet also recorded less organized activity targeting unattended, loaded equipment in major metropolitan areas such as South Florida and Dallas–Fort Worth.
[Related: $75K for your authority? Underground MC number sales network uncovered]
The difference can also be seen in CargoNet’s incident classifications. Events classified as theft declined from 488 in Q2 2025 to 378 in Q2 2026, while fictitious pickup incidents fell only slightly, from 165 to 158 events.
The decline in theft activity was not evenly distributed across commodity categories. Metals theft increased by 26 events, rising from 54 incidents in Q2 2025 to 80 in Q2 2026. Copper remained the most frequently targeted metal, while thefts involving aluminum, nickel, tungsten and other specialized industrial metals also increased.
[Related: FMCSA warns of ‘aggressive’ new phishing campaign targeting carriers]
Organized groups also continued targeting enterprise-grade computer and networking equipment, components and cryptocurrency mining hardware. These shipments may be worth several million dollars but frequently move through the supply chain as conventional dry freight, creating a significant mismatch between their financial value and their ordinary transportation and security profile.
Verisk CargoNet expects organized groups to continue specializing in metals, enterprise technology and other commodities with high values and established resale markets.
Food and beverage theft declined overall, as thefts involving alcoholic and non-alcoholic beverages and mixed grocery products collectively fell by 36 events, while seafood theft moved in the opposite direction, increasing by 11 events. CargoNet also recorded substantial decreases in thefts of auto parts and tires, along with fewer thefts involving supplements, protein products and over-the-counter medications.
Business email compromise, or phishing, remained the primary access point for many of the quarter’s most sophisticated cargo theft schemes. CargoNet also continues to see organized groups expand what they can obtain from a single compromised account, turning access to one business system into access to several parts of the shipment process.
[Related: Carrier vetting without ELD tracking? Axle-weight monitoring spots cargo thefts in real time]
Wabash van trailers recalled for ABS label issue
Wabash National is recalling approximately 533 model year 2027 van trailers in which the external antilock (ABS) malfunction indicator light may not be labeled.
According to National Highway Traffic Safety Administration documents, the missing label causes the trailers to fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 121, “Air Brake Systems.”
Wabash will mail ABS identification labels and installation instructions to owners, free of charge. Owner letters are expected to be mailed Sept. 28. Owners can contact Wabash customer service at 765- 771-5404. NHTSA’s recall number is 26V-506.
[Related: Paccar, Daimler recall 29K units]
Vocational Mack trucks recalled over potential steering problem
Mack Trucks is recalling certain model year 2025 Mack TerraPro vocational trucks due to a potential issue with the steering gearbox.
NHTSA documents note that in the 341 recalled units, the steering gearbox fasteners may loosen, which can result in a loss of steering.
Affected vehicles were manufactured between Oct. 1 and Dec. 31, 2024. Trucks built during this time that have reached at least 30,000 miles are not included in the recall, Mack said.
Dealers will inspect and tighten or replace the fasteners as necessary, free of charge. Owner notification letters are expected to be mailed Oct. 5. Owners can contact Mack’s customer service at 800-866-1177 with recall number SC0497. NHTSA’s recall number is 26V-509.
