Transported Asset Protection Association EMEA ’s Post

Cases involving fraud cost #supplychains millions of euros a year. In the last 24 months, #tapaemea has received reports of #fraud impacting supply chains in 32 countries in our EMEA region, producing an average loss for major #cargo #thefts (€100K or more) of more than €468,000.   In this special report, Joshua Finch of TT Club, the independent provider of mutual #insurance and related #riskmanagement services to the international #transport and #logistics industry, looks at the types of fraud most commonly impacting supply chains, and what you can do to help stop them… #tapa #lossprevention #supplychain #crime  

During the COVID-19 pandemic, fraudulent activity in the transportation industry surged significantly. Understanding the root causes of this issue is crucial to addressing it effectively. Here's my theory: Many jobs were outsourced from the United States due to lockdowns, leaving a substantial workforce seeking new opportunities. As lockdowns ended, these individuals based in other countries obtained their own authority from the Federal Motor Carrier Safety Administration (FMCSA) and started their own businesses. Unfortunately, the FMCSA's lackadaisical vetting processes allowed approval of operating authority with no compliance or identity verification, and in-person new entry audits were virtually nonexistent. This lack of oversight and regulation created an environment ripe for fraud, as some took advantage of the situation and the high demand for freight services. Today, freight fraud is worse than ever. Until FMCSA can properly vet motor Carriers and Freight broker applicants prior to issuing authority, FreightValidate ✅ is here to Help Our compliance and identity verification system does the work of FMCSA. If the carrier or broker is not compliant, they’re not validated in our platform. Protect your company and your customers by subscribing to www.freightvalidate.com today #Transportation #Logistics #FraudPrevention #COVID19 #FMCSA #IndustryInsight

𝗖𝗼𝗺𝗯𝗮𝘁𝘁𝗶𝗻𝗴 𝗙𝗿𝗮𝘂𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗧𝗿𝗮𝗻𝘀𝗽𝗼𝗿𝘁𝗮𝘁𝗶𝗼𝗻 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 Fraud impacts everyone in the transportation industry, from shippers and carriers to brokers and customers. To address this issue, the International Factoring Association (IFA) and the Transportation Intermediaries Association (TIA) have teamed up. Their joint efforts are crucial in fighting fraud and ensuring a safer and more trustworthy industry for all. #Transportation #FraudPrevention #IFA #TIA #Logistics #SupplyChainSecurity Read more: https://lnkd.in/gC82-sVq

🚚 Protect Your Freight: Quick Tips Against Transportation Fraud Navigating the dynamic logistics landscape demands vigilance. At GFS, we understand the importance of safeguarding your freight from fraud. Here's a brief guide to ensure secure transportation: 1. Choose Reliable Partners: Vet transportation companies thoroughly before partnering. 2. Trust Established Platforms: Use reputable freight platforms with robust security measures. 3. GPS Tracking: Equip shipments with GPS for real-time tracking and added security. 4. Verify Carrier Information: Confirm licensing, insurance, and registration details of carriers. 5. Document Agreements: Secure contracts in writing to establish expectations and legal recourse. 6. Stay Informed: Be aware of common fraud schemes in the transportation industry. 7. Educate Your Team: Train your team to recognize and prevent fraudulent activities. 8. Secure Payments: Use traceable and secure payment methods, avoiding cash transactions. 9. Regular Audits: Periodically audit transportation processes to identify discrepancies. 10. Collaborate with Authorities: Report suspicious activities promptly to law enforcement. In the ever-evolving transportation landscape, vigilance and proactive measures are your best defense against fraud. #LogisticsSecurity #FraudPrevention #HaulingSmart #Logistics #securityawareness #transportation #freightforwarding #freightbroker #freight 🛡️📦🌐

The rise of cargo theft across the United States is a threat that must be taken seriously. Did you know: 📈 There was a 59% increase in cargo thefts during JUST the third quarter of 2023 💲 The value of stolen goods increased 16% between 2021 and 2022 ❗️ Strategic theft (such as shipment misdirection) was up by a staggering 430% in 2023 This is why we take every precaution to ensure that your freight is protected during every step of the process. #CargoTheft #Freight #SupplyChain #Logistics #Insurance

During a recent congressional hearing, when questioned about the types of fraud observed, Jeff Tucker, CEO of Tucker Company Worldwide, emphasized that the problem involves criminals posing as both brokers and trucking companies. He emphasized that it shouldn't be categorized as carrier or broker fraud, but rather as criminal activity. Tucker also highlighted instances of fraud related to dispatch services, often based in other countries, which, unlike U.S.-based services, are not obligated by the FMCSA to obtain a license or registration. 💡 Read more: https://lnkd.in/gmaqAPJe 🌎 Elevate your freight day and don't truck it up with our twice-weekly newsletter👉 https://lnkd.in/gbx3WYxW #freight #freightbroker #trucking #transportation #transport #3PL #supplychain #maritime #finalmile #ecommerce #parcel #ports #airfreight #aircargo 

Despite the emergence of several “Carrier Vetting” platforms, TIA (Transportation Intermediaries Association) reports a 600% rise in freight fraud! While many vetting tools rely on data science, algorithms and subjective data, allowing bad actors to slip through, FreightValidate ✅ > ❌ is different. We use 33 years of #InTheTrenches industry experience, along with #objective, #factual and #unbiased data investigations to stop fraud before it happens. Our recent integration with MyCarrierPortal proves our methods work! Fraudulent carriers, who brokers once onboarded with ease, are being stopped in their tracks. We hear the their excuses and pleas to change their status: - “Other vetting services gave us a passing grade.” - “We don’t have any FreightGuards against us.” - “FMCSA approved us.” -“We have Inspections” At FreightValidate ✅ > ❌ none of that matters if they violated Federal regulations to obtain their Operating Authority or are currently in violation of State or Federal Regulations. They #WillNotBeValidated. PERIOD Our #DELTA (Don't Even Let Them Aboard) Initiative —blocks #SCUMBAGS before they ever get a chance to commit fraud Some call #FreightValidate the “Unofficial Quality Assurance Division of the Federal Motor Carrier Safety Administration” With features such as on-demand facial recognition verification and detailed investigations, we ensure only compliant businesses are onboarded or validated We invite #LoadBoards, #OnBoarding services, freight matching platforms, and other entities to #integrate with FreightValidate ✅ > ❌ to enhance security and protect the industry. For #shippers, #brokers, #carriers and #industrystakeholders, now is the time to #subscribe to #FreightValidate and prevent fraud before it strikes. Wiith subscriptions as low as $149 per month (per company, not per user), you can’t afford to wait until it’s too late Visit www.freightvalidate.com to learn more. #FreightValidate #FraudPrevention #ObjectiveData #DeltaInitiative #StopFraudBeforeItStarts #FreightIntegrity #ProtectYourBusiness #BetterThanTheRest

Peruse is proud to participate in the Carrier Assure Conference, the leading event for addressing the latest trends in fraud, cargo theft, and double brokering. We’re here to learn from the best and to introduce our latest initiative: the Fraud Data Consortium (FDC). The FDC is a FREE, collaborative network designed for Factors and Brokers, aimed at sharing real-time fraud data and streamlining the invoice verification process. The FDC doesn't replace proper carrier vetting upstream. However, the ability to access FREE real-time data about fraud occurring when an invoice is factored will be a valuable tool for Brokers and Factors. At the Carrier Assure conference and looking to connect? Interested in learning more about the FDC? Please reach out to Ethan Feldman. #CarrierAssure #Peruse #FraudPrevention #Collaboration #FDC #Freight #Factoring #DoubleBrokers #MoreFreightMoreProblems

Fraud in logistics is on the rise, with brokers facing threats like unlawful brokering, unresolved insurance claims, and identity theft. To combat these schemes, TIA (Transportation Intermediaries Association) recommends these practices: 👉Verify carrier history: check how long they’ve been in business. 👉Confirm DOT registration: ensure legitimacy through proper registration. 👉Validate contact information: cross-check details for consistency. Successful trucking businesses also stress working with trusted partners to boost fraud prevention💡 #Logistics #CargoTheft #FreightFraud #SupplyChainSecurity

In case you missed it FreightValidate ✅ has identified what it believes is the root cause of fraud in the freight industry. According to the Federal Motor Carrier Safety Administration (FMCSA), new carrier/broker applications were not vetted, except for household goods and passenger carriers, as of August 2013. Check out the full document here: https://lnkd.in/eyJiJBjk This lack of oversight has led to numerous unvetted carriers and brokers causing havoc and committing fraud over the past decade. FreightValidate ✅ through its Robotic Process Automation (RPA) screens every motor carrier and freight broker on the day that they are approved by FMCSA and prior to the end of the ten-day protest period. It is become quite clear over the past 10 years or so that FMCSA approved does not mean FMCSA compliant. If the platform cannot verify the identity and compliance of the newly approved motor carrier or broker, they will not be FreightValidated We are determined to put an end to fraud in the freight industry. Fraud starts with fraud it ends with FreightValidate ✅ protect yourself from fraudsters - Subscribe today at www.FreightValidate.com #FreightValidate #FraudPrevention #FreightIndustry #FMCSA #CarrierFraud #BrokerFraud