This fireside chat recap is from FreightWaves’ 3PL Summit on Wednesday February 26.
FIRESIDE CHAT TOPIC: Defending against fraud
DETAILS: Fraud remains one of the biggest threats to the freight industry, with bad actors constantly adapting their tactics. As we look ahead to 2025, what are the most pressing security challenges, and how can brokers and carriers protect their businesses? Lisa Haubenstock, VP of product at Truckstop, discusses the issue and the strategies companies can leverage to stay ahead.
SPEAKER: Lisa Haubenstock, VP of product at Truckstop
BIO: As VP of product, Haubenstock is responsible for designing and executing the strategy to deliver best-in-class compliance and risk management solutions for the freight industry. She joined Truckstop in 2020 as VP of customer success and then moved into an expanded role in 2022 responsible for all support and services teams. Prior to joining Truckstop, she specialized in building and scaling customer experience programs for businesses like Amazon and Everfi.
KEY QUOTES FROM HAUBENSTOCK:
“I think unlike a lot of other industries, in freight we have to fight the fraud battle on multiple fronts. So we’re not just dealing with identity theft, but you’re also dealing with actual physical asset theft, double brokering and cyberattacks. There are a lot of different vectors that you really have to think about, as opposed to just only going in and focusing on one specific area.”
“The industry has been talking about fraud as a new thing in freight, and I like to fact check that. We’ve actually been tracking reported incidents of fraud for nearly 30 years. What we can see is that fraud, despite people assuming that it’s correlated with a typical 18- to 24-month rate cycle, we actually can see that it’s much more heavily correlated with economic cycles.”
“How are you working with your customers and your carriers to ensure that they’re also paying attention to the pieces that matter? … If your shippers aren’t paying attention to who they’re giving freight to at the docks, and if your carriers aren’t paying attention to keeping their credentials safe, the whole supply chain can still have an opportunity to break down.”
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