Managing Logistics Fraud in the Digital Age | Episode 23

Logistics fraud has been around for as long as goods have traversed the highways. Traditionally, it involved tactics like falsifying documents or shipping non-existent goods. However, the digital era has ushered in a new chapter in this illicit narrative, marked by an unprecedented level of complexity and ingenuity.

In episode 23 of Banyan Technology’s Tire Tracks® podcast, Brent Hutto, Chief Relationship Officer at Truckstop, tackles fraud in the shipping industry and how to manage it in the digital era.

“As the industry has become more automated, it has allowed more cybercrime,” he said. “When you can electronically change things, you can direct things to different places. It’s increased because these players use electronic means to get it done. … Any business has had to step up their cybersecurity. You’ve got to be proactive because there are ways to protect yourself.”

Logistics Fraud Episode Key Points

  • How Truckstop has adapted to the “new normal” of freight and logistics.
  • He explains how pricing has been affected by the current market.
  • Discover how policies and politics impact freight and logistics.
  • Unpack the AB 5 Law and how it could shape the industry.
  • Learn why the Greenhouse Gas Emissions Standards are an issue.
  • What the future growth of the industry looks like.
  • Challenges and market gaps that Truckstop has targeted.
  • Overview of fraud in the industry and how it has evolved in the digital age.
  • Explore the innovative ways Truckstop is helping combat fraud.
  • Brent shares advice on how to remain successful in the industry.

Featured Episode Quotes

“There is good freight to be had. There is always good freight to be had but you have to know where to look for it.” — Brent Hutto [0:01:34]

“What you are going to find as the marketplace becomes more efficient, it will be more of a job that people like because it won’t be as difficult to do.” — Brent Hutto [0:13:18]

“Fraud has been a part of the [freight and logistics industry] since day one.” — Brent Hutto [0:14:35]

“[Fraud prevention] is going to be a part of our normal freight experience going forward because nobody likes when the bad guys win.” — Brent Hutto [0:16:50]

“You always have to be investigating for ways to grow – because growth is everything.” — Brent Hutto [0:21:15]

To find out more about how to manage fraud in logistics, click above to view Tire Tracks Episode 23.

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