Ports

North American Cargo Crime Incidents Fall 25%, But Theft Losses Surge 39%

Organized theft rings are targeting North American supply chains through identity fraud and carrier impersonation to steal higher-value shipments despite fewer overall incidents. Verisk CargoNet documented 2,072 cargo crime cases across the US and Canada through October 23, a 25% decline from 2,755 incidents in the comparable 2025 period. However, total losses climbed 39% to $718 million, with the average value of stolen cargo jumping 72% year-over-year to $448,000 from $261,000. Third-quarter figures showed 547 incidents—down 33% annually—yet losses reached $230.1 million. California led regional theft counts with 182 cases, followed by New Jersey, Texas, and Illinois. The divergence between declining case numbers and mounting financial losses underscores criminals' shift toward high-value freight and exploitation of verification gaps.