Telling Trucking Fraud to Hit the Highway
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Telling Trucking Fraud to Hit the Highway
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Fraud in the trucking industry has become a major issue 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 have 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 how stumbling into the freight-brokerage industry led him to Highway.
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