Core Insights - Hackers are infiltrating trucking and freight companies to steal and sell cargo shipments, potentially costing companies and consumers billions of dollars [1][2] Group 1: Cybersecurity Threats - Proofpoint Inc. has high confidence that hackers are collaborating with organized crime groups to execute cargo thefts, specifically targeting trucking carriers and freight brokers [2] - The stolen cargo is likely sold online or shipped overseas, indicating a significant impact on the supply chain [2][3] - Cyberattacks on cargo companies have been identified as a full-scale supply chain threat, with losses from cargo theft increasing by 27% in 2024 and projected to rise another 22% in 2025, amounting to an estimated $35 billion in annual losses [3] Group 2: Criminal Tactics - Researchers have identified at least three distinct criminal groups using cyberattack methods against cargo companies, with nearly two dozen campaigns observed in the last two months [4] - The cyber-enabled heists rely on social engineering and industry knowledge, allowing hackers to impersonate insiders and exploit supply chain technology [5] - One tactic involves compromising load boards, where hackers send emails with malicious links to carriers responding to fraudulent load postings [6][7] Group 3: Industry Impact - The urgency for carriers to secure loads leads to hasty decisions, increasing the likelihood of clicking on malicious links, especially when they appear to come from trusted brokers [8][9] - The most targeted commodities include food and beverages, with energy drinks often stolen and shipped overseas due to restrictions in other countries [9] - The issue of cargo theft is not limited to North America, as indications suggest that hackers may be operating from Russia or Eastern Europe, representing a global problem [10]

Core Insights - The freight and logistics industry is facing a significant increase in vulnerabilities, particularly due to organized crime, with cargo theft incidents rising by over 57% in 2023, resulting in losses of $130 million [1][2]. Industry Overview - The complexity of today's supply chain creates opportunities for crime and fraud, necessitating that stakeholders, especially carriers and brokers, assess and manage their risks effectively [2][3]. Cybersecurity and Insurance Needs - Both motor carriers and freight brokers require cyber liability insurance that covers financial and physical loss of goods, reflecting the evolving nature of threats in the freight industry [3][6]. - A comprehensive insurance policy is essential for protecting businesses from financial losses due to deceit and theft, while also offering legal and logistical support to mitigate reputational damage [6]. Nature of Threats - The freight industry is experiencing sophisticated forms of crime, including cyber fraud, where tactics such as deep fakes and identity theft are employed to exploit vulnerabilities in the supply chain [4][5]. - Criminal activities have evolved from traditional wire fraud and phishing to large-scale theft, indicating a critical need for enhanced cybersecurity measures [5]. Case Examples - An example of freight fraud includes a case where thieves intercepted a refrigerated container and demanded a ransom of $40,000, highlighting the serious risks faced by the industry [7].