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- Shipping fraud is a huge financial problem and can wreak havoc on freight businesses, including freight brokers and freight carriers who get caught in the middle. If you unknowingly book a fraudulent shipment, you could get stuck paying for fraudulent credit card charges, or face legal liability.
truckstop.com/blog/shipping-fraud/How to Protect Your Business From Shipping Fraud - Truckstop
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Sep 17, 2024 · Learn how to protect your business from freight fraud with these key prevention strategies, including carrier vetting and technology solutions for shippers.
May 22, 2024 · Freight fraud occurs in the process of shipping goods. This fraudulent action involves individuals or groups manipulating transportation transactions for financial gain. Freight fraud can affect shippers, carriers, brokers, and consignees, making it a pervasive issue within the industry.
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- Having The Right Tools For The Job
- Searates Tools
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The Covid-19 pandemiccreated an environment that plays into the hands of scammers and fraudsters as fewer face-to-face interactions make it harder to verify the legitimacy of some operations. And with the growth of online shopping, particularly during national lockdowns as consumers turned online in increasing numbers, there are much greater volume...
There are several ways that a shipping freight fraud can impact your business: it can cost you considerable time, money, and resources to recover. It can also disrupt your other customers’ service supply chains as gaps in inventory are restocked.
At SeaRates, we know being aware of shipping freight scams and online shipping fraud is the first step to avoiding falling victim. Taking the time to choose the right ocean freight forwarder makes good business sense and is essential when scams are so prevalent.
1. Shipping Quotes: Be rate savvy
Competitive pricing is great, but a scammer posing as an ocean freight forwardermay be trying to lure you in with an extremely reduced rate. Do your research by gathering a range of quotes from other freight forwarders to get an idea of what a shipment typically costs. It is all very well trying to save money at the outset, but if it means that your goods never make it to their intended destination, your company could be out of pocket.
2. Familiarize yourself with Incoterms 2020
The latest version of the International Chamber of Commerce’s international rules and regulations coordinating the practice of cross-border cargo shipments, Incoterms 2020, came into effect on 1 January 2020. Knowing and understanding Incoterms will help to ensure that procurement, sales, and other international ttrade transactions proceed without any logistics fraud incidents.
3. Withholding the Bill of Lading
SeaRates has previously written about the importance of the Bill of Lading. Scammers posing as ocean freight forwarders will typically not issue a Bill of Lading. Instead, they might assert that this was never released to them. Without this, the shipment will not be able to make it to its intended destination and you may well hear from your customer asking when they can expect their goods to arrive.
But with responsibility for the delivery of goods in many circumstances falling on the seller – under FCA Incoterms, DDP Incoterms, CIF Incoterms and CIP Incoterms– it’s essential that your cargo arrives where it’s supposed to. By putting in place the right measures, you will reduce the chances of your cargo falling into the wrong hands and having ...
Logistics Explorer
The SeaRates Logistics Explorer is a unique online quotation module for transport and logistics companies who want to increase their sales using their own site and get online bookings from customers. The Logistics Explorer allows your customers to book online at any time of day for a freight quote. It can help turn enquiries into bookings and increase sales.
Container Tracking
The SeaRates Container Trackingtool works on any desktop or mobile device and gives you one container tracking wherever your goods are in the world. Using data from the Automatic Identification System (AIS) to identify and locate ocean shipping objects through digital data exchange, allowing us to determine the exact berthing time, whether your customers import from US or import from Vietnam.
Load Calculator
With the SeaRates Load Calculator stuffing for loads of diverse sizes has never been so easy. Square and round objects are shown in our 3D models loaded inside containers or trucks. With tools such as the Load Calculator, we can make sure that EXW shipping customers don’t get any nasty surprises. We can take project cargo, full container load or less container load: whatever your need, we will have a solution for you.
As part of the DP World corporate family since launching in 2020, SeaRates.com has the experience and technology to brings cargo movement management online and make it a more efficient process for our customers. We can also aggregate rates from thousands of logistics providers and independent freight forwarders under the Digital Freight Alliance, o...
Jan 4, 2024 · Big and costly consequences. Shipping fraud poses a substantial threat to businesses, both financially and operationally. Here's how it hurts them: Financial losses: Businesses can incur significant financial losses due to shipping fraud.
Shipment Diversion: Also known as "rerouting fraud," this involves a scammer intercepting a shipment in transit and redirecting it to an alternative location. They often exploit gaps in the verification process of shipment handovers. Load Pilferage: This subtle fraud involves the theft of part of the cargo.
Explore the complexities of freight fraud scams and learn to identify red flags in this insightful blog. Geared towards freight agents and businesses, it focuses on proactive defense strategies, particularly during the high-risk holiday season.
Freight fraud affects businesses of all sizes, whether they are third-party logistics providers (3PLs), carriers, shippers, or brokers. Some of the most common logistics frauds include: Fake Carrier Fraud. Scammers pose as legitimate carriers and steal the cargo once the shipment is in their possession. Double Brokering Scams.
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