Cargo theft losses double in US and Canada

Cargo theft losses in the United States and Canada reached an estimated $304.6 million in the second quarter of 2026, more than doubling the $135.7 million recorded during the same period in 2025. While the total value of losses has surged, the actual number of incidents decreased by 26% year-over-year, with Verisk CargoNet recording 677 incidents between April and June.

Criminals appear to be targeting higher-value commodities more selectively. Notable stolen items include metals, enterprise-grade computers, networking equipment, and cryptocurrency mining hardware. Metal theft specifically rose from 54 incidents in Q2 2025 to 80 in Q2 2026, with nearly 70% of those thefts targeting copper due to high demand and prices.

The FBI has warned of increasing sophistication in these crimes, noting that criminals are hacking business accounts and impersonating carriers to redirect shipments through fraud. Businesses are currently increasing preparations to protect holiday stock as it moves through warehouses and distribution centers.