Cargo Theft Losses Jump 60% to $725M as Organized Crime Targets High-Value Freight

Supply chain crime totals held steady in 2025, but the financial impact grew sharply as organized crime groups concentrated on higher-value cargo, according to a new analysis from Verisk CargoNet. Estimated losses climbed to nearly $725 million, a 60% increase from the prior year, driven by larger, more sophisticated theft operations rather than an increase in overall activity.

CargoNet recorded 3,594 supply chain crime events across the United States and Canada in 2025, slightly below the previous year. Confirmed cargo thefts rose 18% to 2,646 incidents, underscoring a strategic shift toward fewer but more lucrative thefts. The average loss per theft increased 36% to $273,990, raising severity concerns for insurers handling cargo, inland marine, and commercial property claims.

California remained the most impacted state with 1,218 incidents. While Los Angeles County saw a decline, other regions experienced sharp increases, including Kern County and San Joaquin County. Texas and Illinois followed, with the three states accounting for nearly 52% of all cargo theft activity. Several Northeast and Midwest states also posted notable year-over-year increases, signaling geographic spread rather than concentration.

From a commodities standpoint, food and beverage theft jumped 47%, with meat, seafood, and tree nuts frequently targeted. Metal theft surged 77% amid continued demand for copper. Organized groups also focused on enterprise computing hardware and cryptocurrency mining equipment, while theft of consumer-grade electronics declined. Warehouse and distribution centers, along with truck stops, remained the most common theft locations.

Looking ahead, CargoNet expects high-value technology products such as RAM modules, storage drives, and enterprise hardware to remain prime targets through 2026. For claims professionals, this trend points to higher claim severities, more complex investigations, and increased emphasis on security controls, recovery efforts, and underwriting scrutiny tied to shipment type and routing.