How To Protect Your Trucking Business From Fraud
Protect Your Business and Your Bottom Line: Tips for Trucking Companies
Unfortunately, fraud is always present in the trucking industry – especially during the winter months. Add the rising inflation and sky-high diesel prices and you have the perfect storm for fraudulent behavior. The good news is, there are precautions you can take to decrease your risk of fraud in this new year.
Transportation fraud can come in many forms; some are easy to spot while others can be more complicated. Knowing how to recognize these common types of fraud will help your business avoid unnecessary losses and expenses.
Here are four types of precautions you can take to protect your business:
The first precaution is based on the old adage— if the rate looks too good to be true, then it probably is. Brokers will use a high rate to attract carriers. Make sure you verify that the rate being offered is fair and not over inflated before accepting the load.
The second precaution you should take is to carefully examine the Rate Confirmation for tell-tale signs of fraud. Some fraudulent brokers may try to pass off as well known, established brokers by editing a Rate Confirmation with fake information. For example, someone could take a real TQL Rate Confirmation and change the load number, rate and broker contact information. If you notice fonts on the document that are not matching or inconsistent email addresses, we advise that you contact the broker at their corporate number to get more information about the load.
The third precaution is, make sure that your carrier name and the correct broker is on the Bill of Lading. We have spotted fraudulent activity on the BOL. Sometimes you will see a third-party name. Investigate to find out who they are because this could be a sign of double brokering.
And finally the fourth precaution to take into consideration, before doing business with any broker or shipper, do your homework. Check the company’s website for an email address or phone number that matches what is provided in the Rate Confirmation or Bill of Lading. Also, search online for complaints about the firm to see if there are legitimate concerns about it.
We hope these precautions help you protect your trucking business and if you have any doubts regarding the load, please do not hesitate to contact us – we are here to help!
For more information about ways to protect your trucking business make sure to check out this blog post – Roadside Assistance For Truck Drivers: Protecting Your Business