Verosint Empowers DAT Freight & Analytics To Crush Account Fraud With AI

By Business Wire On Feb 6, 2024

Freight & Logistics Industry Leader Selects Verosint’s AI-Powered Solution To Successfully Outsmart Fraudsters

Verosint, a leader in real-time account fraud prevention, has been selected by DAT Freight & Analytics to combat account fraud within their online freight marketplace. DAT is the recognized leader in the freight and logistics industry with the largest freight load board to connect shippers, carriers, and brokers across North America. Verosint’s rapid implementation at the company, followed by an immediate and drastic reduction in fraud, marks a significant step toward preventing fraud in an industry responsible for the movement of over $38 trillion worth of freight annually. You can learn more about DAT’s success story by registering for a complimentary customer success webinar with Verosint and DAT on Feb 6 at 12pm EST. Verosint will also provide live demonstrations of their account fraud prevention solution at the Manifest 2024 Conference from February 5^th to 7^th at Booth K19.

“Verosint’s team has been an integral part of our fraud prevention strategy, and the ease of deployment and integration into our existing systems was remarkable.”

Account fraud is a serious problem for the freight and logistics industry with widespread consequences including financial loss, brand damage, customer turnover, lost revenue, operational disruption, and more. The industry’s complex supply chain with multiple vendors and intermediaries exposes many potential vulnerabilities that fraudsters and organized fraud rings actively target. Fraud schemes can be very diverse and difficult to detect, including combinations of account takeover, fake accounts, and account-based impersonations, scams, collusions and transactions.

Outsmarting Fraudsters: DAT’s Success Story

Like others in the industry, DAT faced an increase in account fraud including the proliferation of fraudulent accounts, impersonated carriers and brokers, fraudulent bids, “double brokering” fraud, and more. DAT turned to Verosint’s real-time account fraud prevention solution which was implemented in one and a half days using simple API calls from the company’s existing systems. Verosint’s impact was immediate, discovering account fraud hiding within their platform and revealing multi-national fraud rings that were conducting fraudulent bids and transaction.

Transformative Benefits for DAT

Verosint’s solution delivered significant results for DAT in the first 90 days:

Dramatic reduction in account fraud
Blocked 49,500 fraudulent registration attempts
Savings of 25,000 labor hours
Improved customer satisfaction by eliminating delays
Streamlined case investigations using Verosint’s AI-powered analytics

“The capabilities we’ve gained have been eye-opening. Verosint helped us identify fraud clusters and trends across our vast event data,” said Calvin Locklear, Enterprise Solutions Product Manager, DAT Freight & Analytics. “Verosint’s team has been an integral part of our fraud prevention strategy, and the ease of deployment and integration into our existing systems was remarkable.”

See Verosint’s Fraud Prevention Solution in Action

Verosint will be exhibiting their fraud prevention solution at Manifest 2024 from February 5-7 in Las Vegas. The Manifest Conference is a premiere gathering for the U.S. freight, supply chain and logistics industry, and Verosint will provide live demonstrations of their platform in Booth K19.

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