Marine insurers have sounded the alarm over the surge in cargo theft warning the use of technology has taken the risk to an entirely new level.

The significant rise in cargo theft and freight fraud across global supply chains has been highlighted by the International Union of Marine Insurance (IUMI) and the Transported Asset Protection Association (TAPA) EMEA, with incidents escalating across Europe, the Americas and Africa. Latin America and several African nations are experiencing particularly severe and violent attacks.

Lars Lange, (above) secretary general of IUMI, warned: “A crucial element in the fight against cargo fraud are freight exchange platforms. They have a key responsibility to ensure no bogus carriers can operate on these platforms. IUMI and TAPA EMEA encourage these platforms to implement robust identity verification and fraud detection protocols, including multifactor authentication. Their support and cooperation is essential to closing loopholes which are increasingly being exploited by fake carriers.”

According to TAPA’s intelligence system, nearly 160,000 cargo-related crimes were recorded across 129 countries between 2022 and 2024, with total losses estimated to reach several billions of Euros.

The pair have issued a joint paper which highlighted:

• Cargo theft losses in North America reached USD 455 million in 2024, with over 3,600 reported incidents. The average loss per incident exceeds USD 202,000.
• TAPA EMEA’s cargo crime intelligence database recorded over 108,000 thefts from supply chains in more than 110 countries in Europe, the Middle East and Africa in the last two years. The 5% of these crimes reporting their loss value were worth a combined €1 billion+, the equivalent of >€1.3 million every 24 hours. Major incidents (€100,000+) averaged €878,525.
• Strategic cargo theft and organised crime account for around 18% of all thefts in the US as criminals adopt increasingly sophisticated tactics to attack supply chains.
• “Phantom freight” frauds have surged in Mexico. According to the American Transportation Research Institute (ATRI), this kind of strategic theft skyrocketed (up to 15 times) since 2022. Notorious cases involved stealing high-value shipments (e.g., truckloads of tequila) through fraud, with no violence used. The German Insurance Association (GDV) reports a dramatic increase: In the first seven months of 2025 alone, 88 cases of so‑called phantom carriers were registered – as many as in the entire previous year. In Germany, a full truckload disappears every three days, resulting in losses of around €18 million by the end of July 2025.5

While traditional threats such as hijackings and theft remain a problem, both organisations warn that cargo crime is rapidly becoming more sophisticated and digitally enabled.

Thorsten Neumann, president & CEO of TAPA EMEA explained: “Although conventional theft from trucks and warehouses are still prevalent, cargo crime is evolving. We are seeing criminals using digital tools to conceal their true identities, the creation of shell companies and legitimate firms being cloned using stolen credentials. Forged email addresses, look-alike domains, and fake insurance certificates are increasingly common. Our concern is that artificial intelligence will accelerate these activities, making deception easier to scale and significantly driving up losses.”

In response to these growing risks, IUMI and TAPA EMEA are calling for urgent action by supply chain stakeholders and government authorities. The organisations have jointly published advice for shippers, logistics providers and insurers aimed at strengthening resilience against both physical and digital threats. Recommendations include continuous vetting of carriers and drivers; verification of contacts, documentation, and insurance credentials; adherence to recognised security and operational standards; increased vigilance for abnormal behaviour; and greater use of secure facilities and route planning.

The significant rise in cargo theft and freight fraud across global supply chains has been highlighted by the International Union of Marine Insurance (IUMI) and the Transported Asset Protection Association (TAPA) EMEA, with incidents escalating across Europe, the Americas and Africa. Latin America and several African nations are experiencing particularly severe and violent attacks.