Broker impersonation

It shows up in three forms. A fake broker tenders loads to carriers, then never pays or routes the freight to thieves. A fake broker contact confirms invented loads to a factor during verification. Or a client creates a debtor from scratch, with a company name and domain close to a real broker's, to back fake invoices.

For a factor, the danger is that the broker is your account debtor. If the contact you verify with was handed to you by the client, the verification proves nothing. Verisk CargoNet describes criminals using compromised accounts to impersonate trusted parties and alter shipment details while appearing legitimate to brokers, carriers and shippers.

Get broker contacts from an independent source, check the email domain against the broker's real one, and confirm active broker authority and bond. The guide on verifying a freight broker covers the steps.