Freight fraud is a serious problem in the freight and transportation industry, costing businesses billions of dollars each year. In fact, a recent study by the Transportation Intermediaries Association (TIA) found that the trucking industry loses over $1 billion annually to freight fraud.

What is freight fraud?

Freight fraud is any type of criminal activity that involves the transportation of goods. This can include scams such as:

• Double brokering: When a freight broker accepts a load from a shipper and then illegally subcontracts the load to another carrier without notifying the original broker or shipper.
• Cargo theft: The theft of goods from a truck or warehouse.
• Identity theft: Fraudsters posing as legitimate freight brokers or carriers in order to steal money or goods.
• Payment fraud: Fraudsters intercepting or coercing money transfers between shippers, carriers, and brokers.

The facts about freight fraud:

• Freight fraud costs the trucking industry over $1 billion annually.
• Cargo theft increased by 20% in 2022, with the steepest jump in Q4.
• The average value of stolen cargo in 2022 was $214,104.
• Double brokering is the most common type of freight fraud, accounting for 90% of all reported cases.

How to remain safe against freight fraud:

There are a number of things that businesses can do to protect themselves from freight fraud, including:

• Verify the identities of all parties involved in a shipment. This includes brokers, carriers, and shippers.
• Use secure payment methods. Avoid wiring money or sending checks to unfamiliar parties.
• Track shipments closely. Use GPS tracking devices to monitor the location of your goods at all times.
• Use a reliable 3PL provider. A 3PL provider can help you to manage your freight and mitigate the risk of fraud.

How using a reliable 3PL can help you combat freight fraud:

A reliable 3PL provider can help you to combat freight fraud in a number of ways, including:

• Carrier vetting: A 3PL provider will thoroughly vet all of the carriers that they use, ensuring that they are licensed and insured.
• Freight tracking: A 3PL provider will provide you with real-time tracking of your shipments, so that you can always see where your goods are located.
• Secure payment processing: A 3PL provider will use secure payment processing methods to protect your money.
• Fraud prevention expertise: A 3PL provider will have the expertise and experience to identify and prevent freight fraud.

Beemac Logistics: A safe way to ship your freight

Beemac Logistics is a reliable 3PL provider that can help you to ship your freight safely and securely. We offer a wide range of freight services, including trucking, air freight, and ocean freight. We also have a team of experienced professionals who can help you to mitigate the risk of freight fraud.

Why choose Beemac Logistics?

• Excellent customer service: We are committed to providing our customers with the best possible service. We are available 24/7 to answer your questions and help you with your shipping needs.
• Advanced technology: We use the latest technology to track and manage your shipments. This allows us to provide you with real-time updates and ensure that your goods are delivered safely and on time.
• Strong relationships with carriers: We have strong relationships with a network of qualified carriers. This allows us to offer you competitive rates and reliable service.

Contact Beemac Logistics

If you are looking for a safe and reliable way to ship your freight, contact Beemac Logistics today. We will work with you to develop a customized shipping solution that meets your needs and budget.

Contact us today for a free quote! Visit https://beemaclogistics.com/contact/. 

Sources:

• Transportation Intermediaries Association (TIA): Freight Fraud: A Rising Threat to the Freight Industry: https://www.tianet.org/fraud-resources/
• CargoNet: Cargo Theft Report: https://www.cargonet.com/cargo-theft-data/
• Federal Bureau of Investigation (FBI): Freight Fraud: https://landline.media/two-individuals-face-fraud-charges-against-freight-factoring-broker-companies/