Overhaul, a supply chain risk management and intelligence company, is fighting back against freight fraud with Overhaul FraudWatch, a new solution designed to expose bad actors, protect shipments, and empower shippers and logistics providers to stay one step ahead of fraudsters. Overhaul FraudWatch provides real-time data and alerts, equipping users with the insights needed to detect fraudulent threats like fictitious pickups and double brokering and take action.
The stakes have never been higher. According to the Transportation Intermediaries Association, truckload freight fraud has become a leading issue, with 98% of surveyed logistics companies identifying it as a critical vulnerability. The average financial impact per company exceeds $402,000 annually, and individual loads can result in losses of $40,760 or more. Fraudulent schemes—ranging from fictitious pickups and carrier identity theft to double brokering scams—have surged from less than 5% of reported thefts to over 35% of all reported cargo thefts, making it clear that supply chains need more than traditional protections.
“Fraud is no longer a risk you can afford to ignore. It’s a crisis affecting businesses of every size,” Barry Conlon, CEO of Overhaul, said. “FraudWatch delivers the tools businesses need to outsmart bad actors, equipping them to identify vulnerabilities and stop fraud before it disrupts their operations.”
See also: Trucking’s AI outlook: What solutions await in 2025
Overhaul FraudWatch offers the following features:
- Ability to expose high-risk carriers before it’s too late: AI-enabled scoring—built from millions of shipments—uncovers fraud indicators, from compliance gaps to sudden risk spikes.
- Industry-leading intelligence expertise: Overhaul’s intelligence operation identifies fraudulent carriers and pushes them to the Overhaul platform for alerting.
- Real-time alerts to stop fraud: Immediate notifications for unauthorized pickups, suspicious double brokering, and more.
- Law enforcement intelligence: Access to law enforcement networks provides visibility into organized theft rings and emerging fraud patterns.
- Easy integration for instant impact: Fits into existing workflows via platform tools or API, delivering insights when needed.
States like California, Texas, and Illinois are at the epicenter of this crisis, with California alone accounting for 37% of all reported freight fraud incidents, according to Overhaul’s latest U.S. cargo theft report. As these schemes grow more sophisticated, supply chains must adapt with tools that deliver security at scale.
“With Overhaul FraudWatch, we’re not just responding to the problem—we’re staying ahead of it,” Conlon said. “This solution is about empowerment. It ensures our customers have the clarity and control needed to keep their operations safe.”
Recent freight fraud coverage
Credit: Source link
