DAT introduces new tools to help the freight industry fight fraud

Rhea-AI Summary

DAT Freight & Analytics introduces new initiatives to combat fraud and double brokering in the truckload freight industry. The company is implementing tougher verification protocols and launching the DAT Fraud Protection Program to provide resources and education to its customers. DAT has also expanded its Network Integrity Unit and blocked access from suspicious accounts. They are using smart technology and automation to identify potential fraud and only allow licensed and bonded freight brokers on their marketplace.

Positive

• DAT is taking proactive measures to address the rising issue of fraud in the truckload freight industry.
• The company is implementing multi-factor authentication to enhance user identity verification and protect against login credential theft.
• DAT has launched the DAT Fraud Protection Program, a microsite that offers free security-related information to help customers protect themselves.
• They have expanded their Network Integrity Unit by 40% in the past two years and collaborate with law enforcement agencies to identify freight-related fraud.
• In 2022, DAT blocked access from over 3,000 accounts due to suspected fraud, demonstrating their commitment to combating fraudulent activities.
• DAT's use of smart technology and automation enables them to analyze trends among bad actors and improve fraud detection.
• Only licensed and bonded freight brokers are allowed to post loads on the DAT marketplace, ensuring a higher level of trust and security for users.
• DAT's CarrierWatch automates the monitoring of motor carrier insurance coverage, safety records, and DOT authority, providing users with real-time alerts on any changes.
• The DAT Directory, a free database, offers up-to-date information on licensed and bonded freight brokers.

Negative

• None.

BEAVERTON, Ore.--(BUSINESS WIRE)-- DAT Freight & Analytics today introduced new initiatives to reduce the risk of fraud and double brokering in the industry while delivering the speed, convenience and open marketplace users expect from the DAT One truckload freight network.

“Fraud is on the rise, and DAT is committed to providing the resources our customers need to fight back,” said Jeff Hopper, DAT Chief Marketing Officer. “DAT is using a combination of technology, education and enforcement in our ongoing effort to stop bad actors and help freight brokers, carriers and shippers protect themselves in today’s climate.”

DAT’s new fraud-fighting tools include:

• Tougher verification protocols: DAT is implementing multi-factor authentication (MFA) to verify a user’s identity for logging in to DAT One. MFA is being introduced on a rolling basis early release to a first segment of customer base this month and will protect against the theft of login credentials.
• Education: DAT has launched the DAT Fraud Protection Program, a microsite with free security-related information. This resource center is available as an industry service at https://www.dat.com/fraud-protection.

These initiatives build on DAT’s ongoing efforts to reduce the risk of fraud in the industry:

• DAT has expanded its Network Integrity Unit (NIU) by 40% during the past two years. The DAT NIU works with the FMCSA, FBI and other law enforcement agencies to identify freight-related fraud.
• In 2022, DAT blocked access from more than 3,000 accounts because of suspected fraud, and blocked access from more than 3,000 accounts during the first half of 2023.
• DAT blocks access from countries where there is an elevated risk of fraud.
• DAT is using smart technology and automation to leverage trends among bad actors to better identify potential fraud.
• DAT has expanded their data science capability to better identify trends among bad actors and improve the overall governance of our ecosystem.
• Only licensed and bonded freight brokers may post loads on the DAT marketplace: no carriers or dispatchers.
• DAT CarrierWatch automates the monitoring of motor carrier insurance coverage, safety records, and DOT authority and alerts users to any change in status.
• The DAT Directory is a free database with the latest information about every carrier, broker and shipper that uses the DAT One network. Drawing from government and commercial sources, it can help users verify a company’s contact information; operating authority; publicly available safety data; company reviews; and insurance details.

“The DAT network hosted nearly 400 million truckload shipments in 2022, and the total number of DAT customers has increased by nearly 42% since January 2021,” Hopper said. “As the use of load boards has grown, so has the aggressiveness and sophistication of scammers. These new tools will help users validate the brokers and carriers they want to work with, protect their login credentials and build relationships based on trust.”

About DAT Freight & Analytics

DAT Freight & Analytics operates DAT One, North America’s largest truckload freight marketplace. Transportation brokers, carriers, shippers, news organizations and industry analysts rely on DAT for market trends and data insights based on 400 million freight matches and a database of $150 billion in annual market transactions. Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the S&P 500 and Fortune 1000 indices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230711355053/en/

Annabel Reeves

Corporate Communications

DAT Freight & Analytics

Annabel.Reeves@dat.com

503-501-0143

Source: DAT Freight & Analytics

FAQ

What initiatives has DAT introduced to combat fraud and double brokering?

DAT has implemented tougher verification protocols and launched the DAT Fraud Protection Program to provide resources and education to customers.

How does DAT protect against login credential theft?

DAT is implementing multi-factor authentication (MFA) to verify a user's identity when logging into DAT One.

What is the DAT Fraud Protection Program?

The DAT Fraud Protection Program is a microsite that offers free security-related information to help customers protect themselves from fraud.

How has DAT expanded its efforts to reduce the risk of fraud?

DAT has expanded its Network Integrity Unit (NIU) by 40% in the past two years and collaborates with law enforcement agencies to identify freight-related fraud.

How many accounts did DAT block in 2022 due to suspected fraud?

In 2022, DAT blocked access from over 3,000 accounts because of suspected fraud.

What technology does DAT use to identify potential fraud?

DAT utilizes smart technology and automation to analyze trends among bad actors and improve fraud detection.

Who is allowed to post loads on the DAT marketplace?

Only licensed and bonded freight brokers are permitted to post loads on the DAT marketplace.

What does DAT's CarrierWatch do?

CarrierWatch automates the monitoring of motor carrier insurance coverage, safety records, and DOT authority, providing real-time alerts on any changes.

What information does the DAT Directory provide?

The DAT Directory is a free database that offers up-to-date information on licensed and bonded freight brokers.