Latest news with #MichaelCaney
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.
Bloomberg
22-04-2025
- Business
- Bloomberg
Telling Trucking Fraud to Hit the Highway: Talking Transports
Fraud in the trucking industry has become a major issues for carriers, brokers and shippers alike. The Transportation Intermediaries Association (TIA) estimates that freight fraud costs supply chains over $1 billion annually in the US. The pandemic, market participant anonymity and ease has helped spark a new wave of cargo theft. In this Talking Transports podcast, Michael Caney, chief commercial officer of Highway, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his insights about how the company's technology based platform is fighting abuse in the industry. Caney also talks about types of fraud, the importance of knowing your customer, double brokering, dispatch services, rising costs for truckers and stumbling into the freight brokerage industry lead him to Highway.
Yahoo
27-02-2025
- Business
- Yahoo
3PL Summitt: What does visibility actually mean?
This fireside chat recap is from FreightWaves' 3PL Summit on Wednesday February 26. FIRESIDE CHAT TOPIC: When Visibility Fails: The Consequences of Ignoring Real-Time Load Compliance DETAILS: Visibility is more than just dots on a map. Michael Caney, chief commercial officer at Highway, and FreightWaves' Mary O'Connell break down how true visibility is more than just location service and the role it plays in real end-to-end solutions. KEY QUOTES FROM CANEY:'I think visibility is a bigger conversation. It has to do with everything that goes on with the life of a load. What we talk about with location visibility, we're talking about carriers' performance. There are many other things that determine the performance of a carrier that have nothing to do with where that dot is. If you go upstream of the problem and solve the trust issue, 'Are you going to deliver my load on time?' is a trust issue.' 'When we think about visibility, if everything is important, nothing is important. I think when we talk about creating a trusted environment between carriers, partners and 3PLs, we're not saying that nothing is going to go wrong. We're saying that we trust that we will manage the exceptions.' 'Can you tell, not based on the truck or what the carrier told, but having a global understanding of that carrier, are they even in range of the shipment? Not based on what the carrier told you, but can you get a view to the carrier on a single load of whether they're even physically capable of moving that shipment? Can you tell if that carrier is overbooked, how much capacity do they have? How much are they committed to? Can you tell if the truck is insured? If something happens during the life of that load, that has nothing to do with location but has everything to do with theft or fraud.'The post 3PL Summitt: What does visibility actually mean? appeared first on FreightWaves.
