As the saying goes, “Where there is a problem, there is always a solution.”
And if there isn’t one today, once a problem gets big enough and there is money to be made, entrepreneurs will eventually come up with a solution to sell you.
Take freight fraud and cargo theft, for example. In January 2025, Verisk CargoNet reported “record-breaking cargo theft activity across the United States and Canada in 2024, with 3,625 reported incidents representing a stark 27 percent increase from 2023…The estimated average value per theft rose to $202,364, up from $187,895 in 2023.”
The problem has only gotten worse this year. In July 2025, CargoNet said that it “recorded 884 supply chain theft events across the United States and Canada in the second quarter of 2025, representing a 13% increase compared to the same period in 2024 and a 10% increase from the first quarter of 2025.”
“In the last 18 months, [we have] assisted in more than 240 cargo crime investigations, leading to more than 70 recoveries valued at nearly $40 million,” reported the National Insurance Crime Bureau (NICB) in June 2025.
In April 2024, we asked members of our Indago supply chain research community — who are all supply chain and logistics executives from manufacturing, retail, and distribution companies — “Have you experienced cargo theft or other types of freight fraud in the past year? How would you characterize your processes/efforts to prevent freight fraud?”
At the time, almost half our member respondents (48%) said they had experienced cargo theft or other type of freight fraud in the previous 12 months. Just as troubling, 22% of our members characterized their processes/efforts to prevent freight fraud as either “Poor” (15%) or “Very Poor” (7%). As one supply chain executive commented, “We haven’t even begun to think about mitigating freight fraud, which could introduce substantial risk as we scale.”
And there’s the opportunity that solution providers like Descartes and Overhaul are targeting.
A few weeks ago, Descartes (a Talking Logistics sponsor) announced the release of Descartes MacroPoint™ FraudGuard 2.0, “the latest advancement in freight fraud technology designed to help shippers, freight brokers, and third-party logistics providers (3PL) safeguard their business against increasingly sophisticated fraud and cargo theft schemes.”
And last week, Overhaul announced that it has secured $105 million in Series C equity funding led by Springcoast Partners with participation from Edison Partners. Here are some excerpts from the press release:
As global supply chains face increasing complexity and disruption, companies require active risk management solutions that can prevent problems before they occur. Overhaul addresses this critical need through its comprehensive platform that combines real-time monitoring, predictive intelligence, and immediate response capabilities to protect high-value cargo from theft, damage, and delays. The company will use the investment to accelerate platform innovation, advance AI-driven capabilities, and continue building powerful, complete, enterprise-level solutions for the world’s largest brands while also pursuing strategic acquisitions.
Trusted by Fortune 100 companies, Overhaul serves industries including pharmaceuticals, healthcare, technology, logistics, automotive, consumer, and food and beverage. The company maintains a strong, direct partnership with law enforcement agencies, ensuring rapid recovery and intervention in the event of theft. Overhaul safeguards over $1.4 trillion in cargo trade at any given moment, achieving a 99.9% shipment protection rate.
The company also announced its acquisition of FreightVerify, “an end-to-end supply chain visibility platform recognized for its precision in solving complex logistics challenges in markets such as automotive and healthcare.” According to the press release:
Together, Overhaul and FreightVerify enable a comprehensive, intelligence-driven platform designed to give global brands the potential for warehouse-level control over goods in motion, protecting supply chains from delays and enabling customers to act before disruption hits. These solutions are critical for high-consequence cargo across the high-tech, consumer, automotive, healthcare, and life sciences industries, where visibility, precision, and protection are non-negotiable.
We have published several posts about freight fraud and cargo theft in the past couple of years, so I encourage you to check them out (see links below).
The bottom line is freight fraud and cargo theft are not just a growing problem, but a growing opportunity for companies offering solutions to combat it.
And those companies have the same question I do: If you’re like the 22% of Indago members who haven’t even begun to think about mitigating freight fraud, what are you waiting for?
For more insights and advice on freight fraud, check out the following posts we’ve published:
