Freight Theft Is Preventable 99% of the Time

Michael Grace, Chief Compliance Officer at FreightFlex, explains how freight fraud evolved from double brokering into organized cargo theft, why so much freight theft is preventable, and how carrier vetting has changed over the past decade. He also shares why freight brokers are facing greater compliance and liability risks, how stricter carrier selection standards are changing the market, and why shippers are increasingly looking for brokers with documented compliance processes. The conversation also covers non-domiciled carriers, and the one rule Michael believes every freight broker should follow. This week's episode is sponsored by EPay Manager, GoodShip, Highway and TrackFlo. Interested in sponsoring our podcast? Send us an email at pbj@freightcaviar.com 0:00 Intro 11:44 From Double Brokering to Cargo Theft 17:35 Why Freight Theft Is 99% Preventable 26:30 The Carriers That Can Become “Ticking Time Bombs” 36:07 Why Freight Thieves Demand Bitcoin 36:29 Why Food and Beverage Is the Most Stolen Commodity 41:07 Should Freight Brokers Be Worried? 54:30 What Makes a Carrier “Safe”? 56:57 The One Rule Every Broker Should Follow 1:02:46 Will Freight Fraud Get Better or Worse?