BOISE, Idaho — A new survey commissioned by Truckstop shows that freight brokers spend significant time and resources to prevent fraud.
Timed with the Transport Intermediaries Association (TIA) 2023 Capital Ideas Conference in Orlando from April 19-22, the survey “reinforces that fraud prevention must remain a top priority for the transportation industry,” according to a news release. “TIA is an annual opportunity for North America’s brokerage-based logistics professionals to connect and learn.”
Truckstop CEO Kendra Tucker said that bad actors are becoming much savvier about how they obtain information to defraud brokers.
“Bringing attention to this issue is our focus during the TIA conference,” she said. “It is vital for brokers to have accurate, current data so they can operate efficiently and profitably and not lose time and revenue resolving fraud-related issues.”
Fraud impact on brokers
Fraud can have a significant impact and result in the loss of customers and revenue. Even for those that are vigilant, lost time and productivity can occur more frequently than the actual loss of revenue.
As an industry issue, brokers experienced:
- Lost time resolving fraud-related issues (78%).
- .Lost productivity resolving fraud-related issues (65%).
- Dealing with legal implications (24%).
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.