AU10TIX Partners with FreightValidate to Combat $35B Cargo Theft Crisis

AU10TIX, a global identity verification and management company, has partnered with FreightValidate to implement new security measures addressing cargo theft in the freight industry. Cargo theft currently costs the U.S. economy up to $35 billion annually.

The partnership builds upon AU10TIX’s recent expansion efforts, including the establishment of a new operational hub in Bengaluru and the company’s broader push into new market sectors.

According to the National Insurance Crime Bureau, stolen cargo incidents typically result in losses between $100,000 and $200,000 per occurrence. The new implementation specifically targets fraudulent carriers who impersonate legitimate transportation companies, a growing concern in the digital age of logistics management.

The technical solution deployed by AU10TIX includes real-time biometric and document verification capabilities, AI-driven fraud detection systems, and API integration for rapid deployment. These features are designed to enable faster verification processes while maintaining security standards.

“Our solutions are designed to combat fraud and enhance security across industries,” said Dan Yerushalmi, who joined AU10TIX as CEO after serving as Chief Client and Revenue Officer at Check Point Software Technologies. “We look forward to helping FreightValidate achieve their goals.”

“AU10TIX’s technology is a crucial part of our strategy to improve our security and efficiency in the freight industry,” said FreightValidate’s founder Dale Prax. He added that the enhanced verification processes will provide increased protection for client shipments.

The implementation is expected to deliver multiple operational benefits, including reduced cargo theft incidents, streamlined verification processes, enhanced client satisfaction through improved security measures, and operational cost savings through reduced delays and theft prevention. The system leverages AU10TIX’s Serial Fraud Monitor, which has proven effective in detecting coordinated mass ID fraud attacks across various industries.

AU10TIX, established in 2002 as a division of ICTS International, has evolved from providing physical security services to becoming a digital identity verification specialist. The company’s development includes significant milestones such as the introduction of their Identity Verification Suite and Serial Fraud Monitor, technologies that have become increasingly crucial as digital fraud networks grow more sophisticated.

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December 10, 2024 – by the ID Tech Editorial Team