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2025 has seen a “staggering” escalation in cargo theft – and Thanksgiving is a prime time for thieves to strike, Verisk CargoNet is warning.
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Verisk CargoNet said that the cargo theft activity is set to reach dangerous new levels over the Labor Day holiday period.
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Cargo theft numbers have spiked 13% year-over-year in Q2 2025 as organized crime groups target high-value commodities.
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A new analysis from CargoNet has revealed that cargo thefts skyrocketed to record numbers in 2024.
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As much as $154.6 million in goods were stolen in the first quarter of 2024, according to a report by CargoNet.
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Cargo theft remains high, both through pilferage and strategic theft, but there are steps drivers and fleets can take to better protect shipments. CargoNet shares holiday-season cargo theft trends and corresponding theft-prevention tips.
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With the explosive growth of the freight market during the COVID-19 pandemic, cargo theft and fraud surged. Thieves stole more than $31 million in shipments just in the third quarter of 2023.
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CargoNet has issued a warning to supply chain professionals and the North American trucking industry saying the threat of cargo theft is “extremely” high heading into Thanksgiving 2023.
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CargoNet said there were 692 recorded theft events during the third quarter of 2023 and thieves stole more than $31 million in shipments. The company warns that strategic cargo theft by using stolen identities of brokers and motor carriers continues to increase.
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Activity for the Fourth of July weekend in 2020 was at its highest since 2016 and increased by 123% over the previous year, according to a CargoNet analysis.
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