Cargo theft is no longer an occasional risk—it has become one of the fastest-growing threats facing supply chains across North America. In both Canada and the United States, the numbers are staggering. In the first quarter of 2025 alone, thieves stole more than $63 million worth of cargo, with an additional $7.5 million lost over the Fourth of July holiday period. What’s worse? These are only the incidents we know about—experts estimate that fewer than 10% of thefts are ever reported.
This surge has pushed cargo theft to record highs, and it’s reshaping how shippers, carriers, and insurers must think about risk.
Not long ago, cargo theft was seen as a relatively contained issue, often focused on opportunistic crimes in certain regions. Today, it has exploded into an international crisis.
Stolen load values are climbing, with the average theft now topping $200,000.
Organized crime rings are increasingly behind these operations, running sophisticated schemes that span multiple countries, including Canada, the U.S., Mexico, and beyond.
Companies like IMC Logistics have reported a jaw-dropping rise in theft—from just 5 incidents in 2021 to over 876 in 2024. That’s a 17,520% increase in only three years.
Clearly, this isn’t a problem that businesses can afford to ignore.
Blue bars show the sharp rise in reported cargo theft incidents (2021–2025).
Red line shows the estimated financial losses in millions of dollars.
This dual-axis chart highlights how both the frequency and the value of losses have exploded in just a few years.
Cargo theft isn’t just about breaking into trailers anymore. Criminal groups have adapted with alarming creativity:
Cyber-enabled fraud: Scammers use false identities and fake carriers to steal shipments—sometimes without ever touching a lock.
Double brokering scams: Once a rare tactic, these now account for around 40% of reported incidents, up from only 5% a few years ago.
Shifting targets: While food and beverages remain the top stolen goods (easy to move, hard to trace), thieves are also going after electronics, household items, and even copper—especially during times of high demand or price volatility.
This is not petty theft. These are carefully orchestrated operations, often supported by international networks and enabled by gaps in security, regulation, and coordination.
The true cost of cargo theft isn’t just in the stolen goods. Businesses face a ripple effect that can last long after the theft itself:
Insurance premiums rise after repeated claims.
Reputation takes a hit when customers experience delays or broken trust.
Operational resources are drained as staff scramble to manage fallout, file claims, and coordinate replacements.
Legal liability questions arise, with shippers, carriers, and brokers often pointing fingers over who bears the ultimate financial responsibility.
For many businesses, a single large theft can strain relationships with clients, disrupt cash flow, and leave long-term damage.
Governments are starting to take the issue more seriously. In the U.S., lawmakers introduced the Combating Organized Retail Crime Act of 2025 (CORCA), aimed at improving coordination across state lines. But legislation moves slowly, and criminals are not waiting around.
Until stronger enforcement mechanisms and standardized reporting systems are in place, businesses are left with one option: take security into their own hands.
Security experts agree on one thing: there’s no silver bullet. Protecting against cargo theft requires a layered approach, including:
Strict role-based security protocols at every stage of the supply chain.
“Freight at rest is freight at risk” mindset—minimizing idle time where theft is most likely.
Technology investments: covert tracking devices, multi-factor identity verification, and route monitoring tools.
Training and preparedness drills, including “tabletop exercises” at least twice a year, so employees know exactly what to do if theft occurs.
Rapid incident reporting, which dramatically improves recovery chances.
The companies that fare best against theft are the ones that treat security not as an afterthought, but as a core business strategy.
Cargo theft in Canada and the U.S. has reached record levels—and it shows no signs of slowing down. As organized crime becomes more sophisticated, so too must our defenses. Businesses that adapt quickly, invest in layered protections, and build partnerships with trusted carriers and insurers will be the ones best equipped to weather this storm.
At the end of the day, cargo theft isn’t just a logistics issue—it’s a business continuity issue. And in today’s climate, ignoring it is not an option.
At Keystone Insurance Brokers, we’re not just brokers; we’re your neighbors in Manitoba, ensuring you get the best insurance for auto, home, farm, agri-business, commercial business, trucking and travel, since 2018. With a dedicated team, we offer personalized attention every step of the way.
Keystone Insurance Brokers proudly serves Manitoba with five convenient locations. As a locally owned and independent brokerage, we are deeply committed to providing personalized attention to each of our clients.
Our independence allows us to prioritize your best interests. By partnering with several highly regarded insurance companies, we ensure you receive the best coverage at the most competitive prices, tailored to your specific needs.
Keystone Insurance Brokers offers a wide range of products at highly competitive rates. We combine the cost-saving benefits of group volume with the exceptional service of an independent broker.
Fill out the form below, and we’ll get back to you as soon as we can, typically within 1 business day.