Put Your Focus on Freight Fraud: Addressing Industry Concerns
Fraud in the industry continues to be one of the most common challenges to deal with. Simply put, freight fraud is getting more advanced than ever. Common forms of fraud include double-brokering, cargo theft, fictious pickups (essentially identify theft), etc. It’s crucial to vet your partners, have a good tracking/tracing system in place, and have good relationships with
As Travelers has noted in Q1 2024 data report, of the 925 incidents reported, Q1 ’24 volumes saw a 45.67% increase compared to Q1 of last year, and up 9.86% from Q4 ’23.
Commerce Express team works closely with their shipper-customers and transportation partners to ensure complete visibility for all parties. We also encourage those to thoroughly vet your carrier/partners involved, be aware of high-risk areas of cargo left (and avoid those routes when able), ask questions if you have concerns, read/verify documents, etc..
“Our team rigorously vets prospective carriers before we make the important decision to entrust one with a client’s load. We have a qualification process which includes proving if a carrier is credible, reputable, and in business for at least six months. We also verify the identities of truck drivers, trucks and equipment, and other personnel involved in each transaction,” Commerce Express Managing Director Andrew Koval states.
Additional resources:
Co-Brokering Versus Double Brokering
Recent Comments