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This story is presented to you as a joint effort by Ping Identity and Truckstop.
Strategic theft continues to threaten the supply chain, with reported loss values exceeding $34 M in Q2 of 2024 alone. Specifically, the rise of fraudulent carriers in the freight market is posing significant challenges for freight brokers. This rampant increase is costing brokers lost revenue and damaged reputations.
Fraudulent carriers often use fake credentials and stolen identities to secure loads, only to disappear with the goods, leaving brokers to deal with the fallout. As for carriers, they risk stolen identities which can result in personal and professional financial losses and reputational damage. This trend also erodes trust within the industry, making it harder for brokers to confidently engage with new carriers. For carriers, identity theft can limit their ability to secure the loads they need to keep their business moving.