The transient response of cracked composite materials made of piezoelectric and piezomagnetic phases, when subjected to in-plane magneto-electro-mechanical dynamic loads, is addressed in this paper by means of a mixed boundary element method (BEM) approach. Both the displacement and traction boundary integral equations (BIEs) are used to develop a single-domain formulation. The convolution integrals arising in the time-domain BEM are numerically computed by Lubich’s quadrature, which determines the integration weights from the Laplace transformed fundamental solution and a linear multistep method. The required Laplace-domain fundamental solution is derived by means of the Radon transform in the form of line integrals over a unit circumference. The singular and hypersingular BIEs are numerically evaluated in a precise and efficient manner by a regularization procedure based on a simple change of variable, as previously proposed by the authors for statics. Discontinuous quarter-point elements are used to properly capture the behavior of the extended crack opening displacements (ECOD) around the crack-tip and directly evaluate the field intensity factors (stress, electric displacement and magnetic induction intensity factors) from the computed nodal data. Numerical results are obtained to validate the formulation and illustrate its capabilities. The effect of the combined application of electric, magnetic and mechanical loads on the dynamic field intensity factors is analyzed in detail for several crack configurations under impact loading.