Latest news with #FreightFraudSymposium
Yahoo
19-05-2025
- Business
- Yahoo
Freight fraud: Your supply chain is showing
This fireside chat recap is from FreightWaves' Freight Fraud Symposium in Dallas on Wednesday. FIRESIDE CHAT TOPIC: How intelligence is power in freight fraud prevention DETAILS: Truckstop and Hetherington Group experts discuss the rising sophistication of fraud in the trucking industry. They emphasize the critical need for cybersecurity awareness, open-source intelligence and proactive verification of carriers and vendors. Key strategies include employee training, social media vigilance and using AI-driven research techniques to detect and prevent fraudulent activities. SPEAKERS: Shawn Rasmor, principal product manager at Truckstop, and Alex DuBay, senior technical instructor at OSINT Academy, the Hetherington Rasmor is the principal product manager at Truckstop, where he helps shape vision and strategy for RMIS and compliance solutions across the Truckstop ecosystem. Rasmor has been with Truckstop for over eight years, serving in various roles including integration product management and product strategy. DuBay retired from the Army after 10 years of service, including seven years in special operations within psychological operations. His expertise lies in integrating cybercapabilities into real-world applications, leveraging publicly available information for intelligence and operational effectiveness. DuBay has developed both physical and digital solutions to meet mission-specific requirements. KEY QUOTES FROM SPEAKERS: 'So we're seeing individuals be targeted through phishing to find information on the individual carriers and truckers. But we're also seeing that [technology] is being used to attack the brokers as well. … They're able to get into the systems of brokers and find the information that they're looking to gain access to, like credentials, that are on these systems.' – DuBay'The other way to find more information is social media. If you are too open on your social media, you're tagging your locations, you're tagging what companies you're working for, what truck routes you're going for – that's publicly open. Now your threat actors are able to see that information and start building a profile on you to further fine-tune their attack on you.' – DuBay 'The bad actors are continuously learning. They're talking. They have a network. They may even be sitting in a room like this and talking to each other and learning about new tactics and how to circumvent those and continue to work together. It's critical that we are all working together and trying to make this the least hospitable industry for the bad actors right now.' – Rasmor Articles by Grace Sharkey DAT acquires Outgo, enters race to become dominant freight exchange platform Avocados, auto parts and ambushes: Inside Mexico's cargo theft crisis Cyberthreats surge against US logistics infrastructureThe post Freight fraud: Your supply chain is showing appeared first on FreightWaves.
Yahoo
19-05-2025
- Business
- Yahoo
Freight fraud: How criminals found a way in
This fireside chat recap is from FreightWaves' Freight Fraud Symposium in Dallas on May 14. FIRESIDE CHAT TOPIC: Freight Fraud Dynamics: Root Cause and Preventive Strategies DETAILS: Barry Conlon, CEO of Overhaul, discusses the evolving state of cargo theft and its impact on supply chains. Conlon emphasizes the importance of situational awareness and carrier validation to prevent theft. He also notes the rise in cargo theft due to consumer demand for immediate delivery and the sophistication of modern criminal gangs. He stresses the need for behavioral training, collaboration and advanced technologies like AI to combat these threats effectively. SPEAKER: Barry Conlon, CEO and founder of Overhaul BIO: With over 30 years of experience in supply chain security, Conlon is widely recognized as one of the pioneers of modern-day supply chain security standards and best practices. Prior to founding Overhaul, Conlon was the founder and CEO of FreightWatch, where he played a key role in shaping the industry. KEY QUOTES FROM CONLON: 'My former career was military, and we always used situational awareness. Meaning, do I know what's happening around me? And if I do, do I have a better chance of survival? It's the same principle in supply chain, you have to know who's around you. You have to know, who am I dealing with? Do I know the true identity of this entity. … That's the challenge.' 'The real root cause of [freight fraud] is the increasing rates of cargo theft and the fact that in most cases, the freight was handed over to a criminal. … Shippers are just not accepting that anymore. And I think a lot of you know that your business can be genuinely impacted by this.' 'I can tell you the biggest change is our buying behavior as individuals. … We want to order it online, and [we] want it there later that afternoon. … and you're not questioning how it gets there and when it shows up. [Logistics] didn't operate that way before. … The stolen product is going to be delivered by a legitimate entity that's delivering to your doorstep.' Articles by Grace Sharkey DAT acquires Outgo, enters race to become dominant freight exchange platform Avocados, auto parts and ambushes: Inside Mexico's cargo theft crisis Cyberthreats surge against US logistics infrastructure The post Freight fraud: How criminals found a way in appeared first on FreightWaves.
Yahoo
19-05-2025
- Business
- Yahoo
Freight fraud: Leveraging the carrier identity solution
This fireside chat recap is from FreightWaves' Freight Fraud Symposium in Dallas on Wednesday. FIRESIDE CHAT TOPIC: Fraud is the Signal: Designing the Future of Freight DETAILS: The fireside chat between FreightWaves' Craig Fuller and Michael Caney from Highway discusses fraud prevention in the freight industry. They explore the importance of an identity layer, know-your-customer (KYC) principles and technological solutions to verify carrier capabilities. The discussion highlights challenges in brokerage, the need for secure transactions and strategies to reduce fraud while maintaining efficient freight movement. SPEAKERS: Highway Chief Commercial Officer Michael CaneyBIO: With over two decades of leadership and advisory experience in fleet operations, freight brokerage and FreightTech, Caney has a track record of driving transformational growth for early-stage companies. As the founder of GrowthNexus, he has guided FreightTech startups and midmarket 3PLs to scale through innovative go-to-market strategies and operational efficiency. KEY QUOTES FROM CANEY: 'The fraud [opportunities] appear in the disconnection between your phone system and your communication channels. When you bring those things together, you eliminate fraud, but you also unlock commerce, you also unlock speed and you also create new experiences for motor carriers.' 'I think that there's a lot of improvement that could happen on-site at the shipper. … There's a lot of shippers that will let anybody pick up a load. I've seen cases of stolen loads where we get photocopies of the license [from the shipper], and they copied a guy's driver's license that was expired. … There's a shipper standard that needs to happen.''We have to be really vigilant about who has access to what [shipment] information and how they can disseminate that outside of your four walls.' Articles by Grace Sharkey DAT acquires Outgo, enters race to become dominant freight exchange platform Avocados, auto parts and ambushes: Inside Mexico's cargo theft crisis Cyberthreats surge against US logistics infrastructureThe post Freight fraud: Leveraging the carrier identity solution appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-04-2025
- Business
- Yahoo
Industry unites for Freight Fraud Symposium in Dallas
FreightWaves is set to host its first-ever Freight Fraud Symposium and Fraud Fighters Awards ceremony on May 14 in Dallas. The event will address the rising threat of fraud in the transportation sector and recognize innovative solutions that are helping to mitigate the impact of this burgeoning criminal crime. Freight fraud costs the industry millions of dollars annually and erodes trust throughout the supply chain. Chris Burroughs, president of the Transportation Intermediaries Association (TIA), said at the association's Capital Ideas Conference earlier this month that the situation has 'obviously exploded into a massive fraud.' The symposium will unite industry experts to discuss emerging trends in fraud as well as strategies to prevent it. Speakers include representatives from companies including Overhaul, Highway, Truckstop, Uber Freight, Reliance Partners, Flexport, DAT, GenLogs and more. 'Freight fraud is a growing concern across the industry, and this event brings the right people together to share what they're seeing and how they're responding. For Highway, it's a chance to listen, collaborate and help move the conversation forward in a meaningful way,' said Michael Caney, chief commercial officer for the company. A key focus will be on combating sophisticated scams like double-brokering, in which carriers re-broker loads without consent of its broker, and identity theft tactics such as stealing Department of Transportation PINs. Chris McLoughlin, senior director of operations, risk and compliance at Uber Freight, emphasized that time is of the essence in fighting fraud. 'Events like this are a critical moment to share what's working, learn from peers and strengthen the collaborative web needed to outpace bad actors.' 'We want to equip attendees with tools and insights they can implement immediately, while also encouraging long-term collaboration across the ecosystem,' McLoughlin added. 'Fraud prevention can't be solved in silos – we're looking to build stronger connections with other industry leaders, raise the bar on security expectations and reinforce that with the right approach, freight fraud can be met with tech-enabled defense.' The Fraud Fighters Awards will honor companies that have mounted those advanced technological defenses to combat such threats. Nominations remain open until 5 p.m. ET on May 8, with no fee for applying, to ensure that all companies have the opportunity to be acknowledged or to acknowledge those contributions. Eligible innovations may include software for verifying carrier identities, real-time shipment tracking systems, and tools to detect and mitigate fraud attempts. Nominees will be judged on innovation, effectiveness and industry impact. 'We're hoping to leave the event with a clearer picture of where the biggest gaps are and how we can work together to close them,' said Caney. Register for the event here. Articles by Grace Sharkey Is trade fraud about to surge? Landstar anticipates fraud-related earnings hit 'Owner' of fictitious logistics firm sentenced in $2.8M COVID relief scam The post Industry unites for Freight Fraud Symposium in Dallas appeared first on FreightWaves.
Yahoo
21-04-2025
- Automotive
- Yahoo
Trucker creates own prosthetic arm; distracted driving; tariff and trade fraud
On Episode 829 of WHAT THE TRUCK?!?, Dooner is talking to one of the most amazing owner-operators on the road: Roger Machback. Machback lost his arm in a boating accident but didn't let that keep him out of the cab. Instead, he designed his own prosthetic arm so he could keep on trucking. Now, he says, regulations need to change regarding amputee drivers. We'll find out why. Grace Sharkey is sounding the alarm about the latest trending form of freight fraud: trade fraud. With shippers scrambling to save their supply chains, bad actors are taking advantage. We will also learn about FreightWaves' next in-person event: the Freight Fraud Symposium. April is Distracted Driver Awareness Month, so Travelers' Chris Hayes stops by to speak facts on the issue. Catch new shows live at noon EDT Mondays, Wednesdays and Fridays on FreightWaves LinkedIn, Facebook, X or YouTube, or on demand by looking up WHAT THE TRUCK?!? on your favorite podcast player and at 5 p.m. Eastern on SiriusXM's Road Dog Trucking Channel 146. Watch on YouTube Check out the WTT merch store Visit our sponsor Subscribe to the WTT newsletter Apple Podcasts Spotify More FreightWaves Podcasts The post Trucker creates own prosthetic arm; distracted driving; tariff and trade fraud | WHAT THE TRUCK?!? appeared first on FreightWaves.
