Identity theft is a growing threat to consumers, and motor carriers are equally at risk. Hackers, phishers, and thieves attempt to steal sensitive company information to victimize motor carriers daily. Examples of fraud that may be committed with this stolen information include providing owner-operators with fraudulent lease agreements, certificates of insurance, and fictitiously obtained temporary registrations.
In each of these cases, the motor carrier may become an unwitting victim, along with the owner-operator who believes they are being leased to a legitimate motor carrier.
Additional fraud can occur when thieves using a stolen DOT number are pulled over for a roadside inspection. The results could be wrongly assigned to the victimized motor carrier, affecting its ability to legitimately operate and negatively impacting its Safety Measurement System (SMS) scores. Consider the following loss prevention techniques and how you can improve security in these areas.
LOSS PREVENTION TECHNIQUES
Consider the following steps to help protect your company from identity theft.- Treat your company information like you treat your banking and credit card information.
- Regularly monitor your business credit reports and SMS results.
- Secure sensitive documents and passwords.
- Limit employee access to sensitive information.
- Shred documents before disposal.
- Consider business identity theft insurance.
- Educate staff on cybersecurity practices
Protect Your Company
Consider the following steps to help protect your company from identity theft when brokering a load.
- Before entering into a lease agreement, verify the identity of the individuals you are doing business with. Obtain photo identification, driver’s license information, addresses, and phone numbers. Conduct background checks, and be suspicious of those unwilling to cooperate fully with your inquiries.
- Obtain a copy of the broker’s authority. Ensure the authority type is licensed and the date matches the date on the FMCSA website.
Get a copy of the broker’s bond, and call to make sure the bond is active. - Sign the bill of lading with your driver’s name, company name (on the side of your truck), and MC number at pickup.
Verify whom you are doing business with before you send out your authority and insurance. - Avoid requesting that the broker send confirmations to truck stops. These high traffic areas make it easy for someone else to pick up your paperwork or overhear sensitive information.
Think YOU ARE A VICTIM OF IDENTITY THEFT?
If you suspect your company has been the victim of fraud or identity theft, consider these recommendations from the FMCSA.
CALL TO ACTION
Consider conducting a risk assessment of your company’s cybersecurity practices.
Note: These lists are not intended to be all-inclusive.
The information in this article is provided as a courtesy of Great West Casualty Company. To see what additional resources Great West Casualty Company can provide for its insureds, please contact your risk control representative, or click below to find an agent.
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This material is intended to be a broad overview of the subject matter and is provided for informational purposes only. Great West Casualty Company does not provide legal advice to its insureds, nor does it advise insureds on employment-related issues. Therefore, the subject matter is not intended to serve as legal or employment advice for any issue(s) that may arise in the operations of its insureds. Legal advice should always be sought from the insured’s legal counsel. Great West Casualty Company shall have neither liability nor responsibility to any person or entity with respect to any loss, action, or inaction alleged to be caused directly or indirectly as a result of the information contained herein.
