Cargo theft hit $700M+ in 2025 — and the scammers are only getting smarter.
In this episode of Transportation Nation, host Lee Gentry sits down with David Mudd (VP of Logistics) and Josh Masker (Director of Risk Management) at Bennett to break down what's really happening in the freight industry right now.
What we cover:
- Why theft events are down but dollar values are up 50–60%
- The most-targeted loads: copper, electronics, food & beverage, shingles — even bath bombs
- How fraudsters use identity spoofing, double brokering, and purchased authorities
- A real case where a load was brokered 7 times before being stolen
- How AI is making fake certificates of insurance harder to spot
- The Montgomery v. Caribe Supreme Court ruling and what negligent carrier selection now means for brokers
- Why smaller carriers are getting priced out by rising insurance and $6.50/gal diesel
- Practical steps Bennett takes to vet carriers, verify COIs, and track loads end-to-end
Whether you're a broker, carrier, shipper, or agent, this one's worth your time.
Timestamps
00:28 Welcome and episode intro
01:16 Theft volume down, dollar value up
02:12 Insurance fallout and policy restrictions
06:33 How identity-theft scams actually work
07:30 Double brokering and buying old authorities
09:02 The 7-layer bath bomb heist
13:38 What thieves target: food, metals, electronics
15:50 Practical takeaways for brokers
20:11 Montgomery v. Caribe and broker liability
24:19 Why Bennett's vetting held up
27:25 Small carriers getting priced out
28:51 Final thoughts from David and Josh