New fraud tactics threaten the trucking industry

The freight industry, alongside many other global industries, has been contending with the ride of fraud. These fraudsters keep inventing new methods to access sensitive information.

The Challenge

In the logistics industry, these fraud tactics range from unpaid claims and unpaid loads to double-brokered loads and phishing schemes; in sum, they cost the trucking industry over $800M annually (Source:OOIDA).

Brokers are particularly exposed to phishing attempts when their back office utilizes an open email inbox to collect carrier invoices.

Tanna Tittle, Billing Manager at Freight Tec, has unique insight into the latest tactics fraudsters use to target freight brokerages. In particular, scammers are regularly sending fraudulent invoices via email with a fake rate agreement that, to the naked eye, may appear legitimate.

Freight Tec at a glance

Company: Freight Tec Management Group

Industry: Freight Brokerage

Location: Bountiful, Utah

Website: https://freight-tec.com

Freight Tec was founded in 1985 and is a trusted and reliable freight brokerage. Freight Tec provides superior back-office support, including invoicing, 24/7 carrier setup, carrier payments, and weekly agent commission payouts.

Freight Tec joined the Epay Manager network over five years ago and has provided best-in-class payment experiences to its network ever since.

The Solution

Epay takes carrier invoices out of your email inbox and out of the hands of fraudsters

Freight Tec has been utilizing Epay’s proactive invoicing workflow since 2019. This means they've avoided working out of an email inbox when processing carrier invoices for more than 5 years, reducing their exposure to fraudulent tactics like phishing emails.

Security that promotes peace of mind

This proactive invoicing workflow has provided end-to-end security, streamlined invoice processing, and provided peace of mind for Freight Tec.

"We love that Epay is a fraud preventer because we don't have to worry about invalid invoices. Only the payee that we assigned can see the transaction." - Tanna Tittle, Freight Tec

With Epay’s proactive invoicing workflow, brokers no longer need to use an email inbox to collect carrier invoices. Instead, the broker’s TMS triggers Epay to proactively create the invoice and automate the collection of load documents from the carrier in their Epay account.

The Epay platform securely handles everything from uploading delivery documents and submitting disputes to accepting invoices and scheduling payments.

The Results

Even as fraudsters continually reinvent their tactics to target sensitive information, Freight Tec back-office teams have maintained their peace of mind thanks to Epay’s secure invoicing workflow.

By relying on in-platform interactions, the team can process invoices with the certainty that they are interacting with the right contact and paying the right invoice.

A workflow that doubles as a fraud preventer

By utilizing Epay Manager’s secure back-office automation and carrier payments platform, Freight Tec has not paid or processed any fraudulent invoices in the last 5 years.

This secure end-to-end workflow improves back-office security and increases accuracy. With Epay Manager, back-office teams can reduce billing and settlement inaccuracies by 99%.

Make your back office more secure and accurate with Epay.

Get started with Epay Manager

Epay Manager helps freight brokers streamline carrier invoicing, automate payment workflows, and create a more connected back-office operation.

If you’re looking to build a scalable foundation for growth, schedule a demo to see how Epay Manager can help your team work more efficiently.