Logistics industry must evolve to fight fraud, TIA says in new report
A report from the Transportation Intermediaries Association says the freight industry is “under siege from increasingly sophisticated and organized fraud schemes” and must evolve to fight the growing problem.
The professional organization for 3PLs said in its 12-page report that 3PLs have experienced a “dramatic” rise in fraud, prompting an increased need for countermeasures. The TIA collected 200 responses from members from February to August to analyze key trends in fraud.
Fraud has become more sophisticated, leading to calls for action on a federal level, including for a task force to curtail the crime.
The most common form of fraud is cargo theft, which saw a 600% increase between November 2022 and March 2023, the report said. The National Insurance Crime Bureau reports that cargo theft amounts to $15 billion to $30 billion each year.