Fraud Watch: Uncovering the dark side of freight

Welcome to the inaugural edition of Fraud Watch, FreightWaves’ dedicated newsletter tackling the burgeoning crisis of freight fraud.

What was once a sporadic issue has evolved into a multibillion-dollar challenge, drawing comparisons to fraud in the credit card industry and highlighting how that sector forged a unified front to combat it. 

By exploiting gaps in transparency, jurisdictional limitations and the rapid rise of FreightTech, freight fraud has surged and become the “perfect crime.”

Tactic...

https://www.freightwaves.com/news/fraud-watch-uncovering-the-dark-side-of-freight

TSA proposes new cybersecurity rule for some railroads, other transit systems

This story originally appeared on Trains.com.

WASHINGTON — The Transportation Security Administration has proposed a rule that would require cybersecurity risk management and reporting requirements for some freight and passenger railroads, as well as rail transportation.

The Notice of Proposed Rulemaking, published Thursday in the Federal Register, also covers some bus and pipeline operations.

The TSA says that under the rule’s criteria, 73 of the approximately 620 U.S. freight railroads and 34...

https://www.freightwaves.com/news/tsa-proposes-new-cybersecurity-rule-for-some-railroads-other-transit-systems

FreightTech leader describes the future of AI and cybersecurity

In the logistics industry, partnerships play a pivotal role in advancing technology solutions and maximizing efficiency. By pooling expertise and resources, logistics companies can overcome barriers like the high costs of technology adoption and the demand for greater data accuracy and real-time updates, which are vital for complex logistics operations.

In addition, collaboration between technology providers accelerates solutions for predictive analytics, route optimization and fleet management,...

https://www.freightwaves.com/news/freighttech-leader-describes-the-future-of-ai-and-cybersecurity

Marlink: Maritime cyber threats up sharply in 2024

cover of maritime cyber threat report

Maritime information and communications technology specialist Marlink has released the latest global maritime cyber threat report produced by its Security Operations Center (SOC).

The report, based on data gathered during the first half of 2024, demonstrates the changing tactics of cyber criminals, who are increasingly attempting to bypass previously effective security controls using new tools.

Marlink’s maritime SOC actively monitored more than 1,800 vessels in the first half of 2024, including...

https://www.marinelog.com/legal/safety-and-security/marlink-maritime-cyber-threats-up-sharply-in-2024/

Enhancing seed-key exchange for more secure fleets

Cybersecurity is top of mind for fleets across the globe. An uptick in bad actors targeting trucks has raised concerns about the reliability of the de facto security protocol known as seed-key exchange. 

Seed-key exchange is a method used in truck diagnostics systems to establish a privileged diagnostic session. The client (diagnostics software or attacker) requests a seed and then must return a matching key to successfully establish the session.

Seed-key exchange is typically utilized to control...

https://www.freightwaves.com/news/enhancing-seed-key-exchange-for-more-secure-fleets

Truckstop on fraud: ‘It’s about time we protect each other’

The supply chain faces a growing threat from freight fraud and cybersecurity issues as criminals increasingly target small carriers and brokers, exploiting vulnerabilities in their systems and processes.

To combat this, marketplaces like Truckstop.com are investing heavily in advanced fraud detection and cybersecurity measures, leveraging AI and data analytics to identify and block suspicious activities.

Related: How freight fraud became the perfect crime

It’s an ongoing battle, as criminals...

https://www.freightwaves.com/news/truckstop-on-fraud-its-about-time-we-protect-each-other

Global freight forwarder confirms malware attack for ‘technical disruptions’

Atlanta-based JAS Worldwide, a global freight forwarder, confirmed Tuesday that it was targeted by a ransomware attack after experiencing technical disruptions, which affected its ability to operate and service its customers. 

“Upon identification of this issue, we immediately secured our systems and commenced an investigation with assistance from external cybersecurity experts,” JAS Worldwide said in its initial post about the service interruption on its website on Tuesday. “Based on our...

https://www.freightwaves.com/news/global-freight-forwarder-confirms-malware-attack-for-technical-disruptions

Airfreight shows resiliency post-CrowdStrike, Xeneta data shows

New data from Xeneta shows airfreight returned to normal levels just nine days after the July 19 CrowdStrike Windows outage.

Thousands of flights were canceled at a time when airfreight demand is soaring, creating concern among logistics managers.

Wenwen Zhang, airfreight analyst at Xeneta, tells American Shipper that the cargo backlogs caused by the IT failure increased the cargo load factor (Xeneta’s measurement of available capacity against volume/weight of goods flown) of some airlines by up...

https://www.freightwaves.com/news/airfreight-shows-resiliency-post-crowdstrike-xeneta-data-shows