Freight fraud: Leveraging the carrier identity solution
Highway’s Michael Caney explores the importance of an identity layer in vetting practices, know-your-customer principles and technological solutions to verify carrier capabilities The post Freight fraud: Leveraging the carrier identity solution appeared first on FreightWaves.
This fireside chat recap is from FreightWaves’ Freight Fraud Symposium in Dallas on Wednesday.
FIRESIDE CHAT TOPIC: Fraud is the Signal: Designing the Future of Freight
DETAILS: The fireside chat between FreightWaves’ Craig Fuller and Michael Caney from Highway discusses fraud prevention in the freight industry. They explore the importance of an identity layer, know-your-customer (KYC) principles and technological solutions to verify carrier capabilities. The discussion highlights challenges in brokerage, the need for secure transactions and strategies to reduce fraud while maintaining efficient freight movement.
SPEAKERS: Highway Chief Commercial Officer Michael Caney
BIO: With over two decades of leadership and advisory experience in fleet operations, freight brokerage and FreightTech, Caney has a track record of driving transformational growth for early-stage companies. As the founder of GrowthNexus, he has guided FreightTech startups and midmarket 3PLs to scale through innovative go-to-market strategies and operational efficiency.
KEY QUOTES FROM CANEY:
“The fraud [opportunities] appear in the disconnection between your phone system and your communication channels. When you bring those things together, you eliminate fraud, but you also unlock commerce, you also unlock speed and you also create new experiences for motor carriers.”
“I think that there’s a lot of improvement that could happen on-site at the shipper. … There’s a lot of shippers that will let anybody pick up a load. I’ve seen cases of stolen loads where we get photocopies of the license [from the shipper], and they copied a guy’s driver’s license that was expired. … There’s a shipper standard that needs to happen.”
“We have to be really vigilant about who has access to what [shipment] information and how they can disseminate that outside of your four walls.”
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