Factoring Company – Load Verification System / Preventing Fraud – Truckers Network – Support Center

Factoring Company – Load Verification System / Preventing Fraud

FAQs – Video (Click Here)

If a load appears in this system, it’s considered valid, but payment may not have been processed yet. If a load is not listed here, it is considered a scam or fraudulent attempt, and you should not proceed with purchasing the Bills of Lading (BOLs). Please note that our brokerage firm has clear load verification guidelines outlined in the rate confirmations. We are not responsible for any purchases of loads that are not verified and listed in this system.

Double load brokering and cyber-attacks have reached unprecedented levels, posing significant threats to many brokerage firms. This verification system has been purposefully developed to combat the issue of loads being double brokered. Its primary objective is to thwart factoring companies from acquiring Bills of Lading (BOLs) associated with fraudulent activities, thereby safeguarding both brokerage firms and factoring companies.

To verify a load’s legitimacy, you must provide the Load Number and the Carrier’s ID Number. If the search results in no records found, it indicates that the load in question is likely a fraudulent scheme. Consequently, we strongly advise factoring companies against purchasing BOLs of this nature to ensure the security and integrity of their operations. This system serves as a crucial protective measure for all parties involved in the logistics and transportation industry.

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