The FMCSA has announced on December 1, 2023 the removal of ELDs from the list of registered ELDs because of the providers’ failure to comply with the minimum requirements implemented in 49 CFR part 395, subpart B, appendix A.
In an era where freight transactions and brokering operations have shifted predominantly online, the trucking industry finds itself grappling with a surge in fraudulent activities. Freight fraud has become a prevalent issue, causing substantial financial losses for trucking companies. According to one estimate, an alarming $500 to $700 million annually falls into the hands of double brokers and other fraudsters. Additionally, freight insurer TT Club reports that 15% of their claims stem from freight fraud. As a trucking company, understanding the dangers of freight fraud is paramount to safeguarding your business from potential pitfalls.
The U.S. trucking industry, a behemoth valued at over $730 billion, faces a significant threat each year—approximately $100 million lost to scams like double brokering. In the wake of recent supply chain challenges, these fraudulent activities have surged, leaving carriers vulnerable to financial losses and legal complications. In this comprehensive guide, we delve into the intricacies of double brokering, its various forms, and crucially, how you can shield your business from falling victim.
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