Cargo theft activity across the U.S. and Canada declined in the first quarter of 2026, but financial losses remained elevated as organized crime groups continue to target higher-value shipments and refine their tactics.

According to Verisk CargoNet, 767 supply chain crime events were recorded in Q1, down 5.3% year-over-year and 12.2% sequentially. However, estimated losses totaled $131.6 million — essentially flat compared to the same period a year earlier.

Confirmed cargo theft incidents accounted for 596 of those events, an increase of 41 cases from Q1 2025, indicating a larger share of reported activity is tied to verified theft rather than suspicious or attempted incidents.

The report highlights a shifting geographic and operational landscape. Theft activity declined across most major states, particularly in Texas and the Southeast, while rising sharply in key logistics hubs. California saw incidents increase from 255 to 277, while New Jersey more than doubled to 59 events — a 119% jump that continues a recent upward trend.

“Verisk CargoNet’s Q1 analysis points to a clear pattern: reduced activity from domestic criminal organizations, particularly in Texas and the Southeast, paired with sustained or growing activity by organized crime groups with a nexus in California and the New York City metropolitan area,” the report stated. “This shift is reflected not only in where cargo theft is occurring, but in what is being stolen and how.”

CargoNet attributes the shift to evolving organized crime activity, with groups increasingly concentrated around major freight corridors in California and the New York City metro area.

The nature of theft is also changing. Rather than broad-based opportunistic theft, criminal networks are becoming more selective — targeting specific commodities and leveraging sophisticated methods such as impersonation and fraudulent carrier schemes to intercept loads.

Verisk CargoNet added that these dynamics align with broader trends seen in 2025, when cargo theft losses surged despite relatively stable incident volumes, driven by higher-value shipments and more coordinated criminal activity.

The Key Takeaway

CargoNet’s Q1 data underscores a continuing shift in supply chain risk: fewer incidents overall, but more targeted and potentially costly theft events.