Off the top of the Overdrive Radio podcast this week is the voice of fuel-payments provider Wex's Vice President of Global Anti-Financial Crimes William Fitzgerald, laying out a 1 in 12,000 transaction rate for detection of fraud over the company's entire fuel-payments network. That is, 1 in every 12,000 purchases are flagged as suspiscious, potentially fraudulent, and blocked in automated fashion among its millions upon millions of fuel transactions facilitated annually.
Translate that incidence to the roughly 350,000 fuel transactions National Association of Small Trucking Companies President David Owen knows move through the association’s own Quality Plus fuel network any given month, and that’s right at 30 transactions being held up by the system. William Fitzgerald was speaking at NASTC's annual conference to outline the evolving landscape of fuel fraud/theft for attendees and showcase tools within Wex's (and some other card providers') networks that are increasingly successful in helping carriers of all shapes and sizes eliminate fraud's impact. Along the way, too, the company's been able to reduce the rate of so-called "false positives," legimate fuel purchases held up by the card provider's systems. Fitzgerald's well aware such hold-ups can be particularly annoying, and unproductive. Illustrating the huge financial impact of stolen fuel, though, he asked this hypothetical question to a room of NASTC conference attendees:
"What would be an acceptable false-positive rate in your minds?" he asked. "How many good transactions would you be OK with me stopping to prevent a bad one?"
The goal is zero false positves, of course, as Wex and other card providers calibrate a variety of techs operating in the network's background to get there, in addition to more human-focused efforts aimed at education to prevent account takeovers and the like that can bring the biggest hits to a fuel buyer’s bottom line. Results from ongoing efforts at Wex in particular have been good in recent months, he said. "We've got overall, over the last 10 months, a 25% reduction in losses, a 32% reduction in false positives," and a big increase in detection, too, he said.
Those results he attributed largely to technical innovations in company’s network, some described in part in a recent paper authored by the company you'll find at this link: https://www.wexinc.com/wp-content/uploads/2025/09/WEX-Closed-Loop-Fleet-Card-White-Paper.pdf
But the human element in fraud prevention might be the biggest factor any size carrier can address to make the most gains in preventing losses, empowering themselves through self-education and passing that on to team members for those of you with more than just a single truck under your management. "We've seen the most yield" in fraud prevention, he said, "with education and empowerment."
Fitzgerald described efforts of Wex to illustrate the kinds of schemes that might result in infiltration of its own backend, including simulated phishing attacks through targeted fake emails designed to get a user to provide access to their login data with a goal of compromising accounts. Wex sends such emails to its own employees on occasion to lure them in, thus serving an educational purpose in awareness. Their most "successful" such an effort? An offer of "free Taylor Swift tickets. Everybody clicked on that," Fitzgerald said.
In the podcast, track through Fitzgerald's entire NASTC talk, tracking through those backend upgrades but also plenty more you can do to work with the company's team and tools in its system, like its SecureFuel solution, to prevent fuel theft. Likewise, should the worst, to work with law enforcement to apprehend the thieves.
Mentioned in the podcast:
**'Personal cyber hygiene' in age of social engineering hacks: https://www.overdriveonline.com/15755615
**More from NASTC's conference on insurance, ELD data: https://overdriveonline.com/15770374
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Off the top of the Overdrive Radio podcast this week is the voice of fuel-payments provider Wex's Vice President of Global Anti-Financial Crimes William Fitzgerald, laying out a 1 in 12,000 transaction rate for detection of fraud over the company's entire fuel-payments network. That is, 1 in every 12,000 purchases are flagged as suspiscious, potentially fraudulent, and blocked in automated fashion among its millions upon millions of fuel transactions facilitated annually.
Translate that incidence to the roughly 350,000 fuel transactions National Association of Small Trucking Companies President David Owen knows move through the association’s own Quality Plus fuel network any given month, and that’s right at 30 transactions being held up by the system. William Fitzgerald was speaking at NASTC's annual conference to outline the evolving landscape of fuel fraud/theft for attendees and showcase tools within Wex's (and some other card providers') networks that are increasingly successful in helping carriers of all shapes and sizes eliminate fraud's impact. Along the way, too, the company's been able to reduce the rate of so-called "false positives," legimate fuel purchases held up by the card provider's systems. Fitzgerald's well aware such hold-ups can be particularly annoying, and unproductive. Illustrating the huge financial impact of stolen fuel, though, he asked this hypothetical question to a room of NASTC conference attendees:
"What would be an acceptable false-positive rate in your minds?" he asked. "How many good transactions would you be OK with me stopping to prevent a bad one?"
The goal is zero false positves, of course, as Wex and other card providers calibrate a variety of techs operating in the network's background to get there, in addition to more human-focused efforts aimed at education to prevent account takeovers and the like that can bring the biggest hits to a fuel buyer’s bottom line. Results from ongoing efforts at Wex in particular have been good in recent months, he said. "We've got overall, over the last 10 months, a 25% reduction in losses, a 32% reduction in false positives," and a big increase in detection, too, he said.
Those results he attributed largely to technical innovations in company’s network, some described in part in a recent paper authored by the company you'll find at this link: https://www.wexinc.com/wp-content/uploads/2025/09/WEX-Closed-Loop-Fleet-Card-White-Paper.pdf
But the human element in fraud prevention might be the biggest factor any size carrier can address to make the most gains in preventing losses, empowering themselves through self-education and passing that on to team members for those of you with more than just a single truck under your management. "We've seen the most yield" in fraud prevention, he said, "with education and empowerment."
Fitzgerald described efforts of Wex to illustrate the kinds of schemes that might result in infiltration of its own backend, including simulated phishing attacks through targeted fake emails designed to get a user to provide access to their login data with a goal of compromising accounts. Wex sends such emails to its own employees on occasion to lure them in, thus serving an educational purpose in awareness. Their most "successful" such an effort? An offer of "free Taylor Swift tickets. Everybody clicked on that," Fitzgerald said.
In the podcast, track through Fitzgerald's entire NASTC talk, tracking through those backend upgrades but also plenty more you can do to work with the company's team and tools in its system, like its SecureFuel solution, to prevent fuel theft. Likewise, should the worst, to work with law enforcement to apprehend the thieves.
Mentioned in the podcast:
**'Personal cyber hygiene' in age of social engineering hacks: https://www.overdriveonline.com/15755615
**More from NASTC's conference on insurance, ELD data: https://overdriveonline.com/15770374
Freight recession? Trucker of the Month Ron Kelsey just hasn't seen it with two direct customers
Overdrive Radio
33 minutes 14 seconds
3 months ago
Freight recession? Trucker of the Month Ron Kelsey just hasn't seen it with two direct customers
This week on the Overdrive Radio podcast, another entry in our 2025 Trucker of the Year competition: https://overdriveonline.com/trucker-of-the-year
You may have seen Matt Cole’s feature a couple weeks back now about longtime independent Ron Kelsey, who’s achieved something of an "owner-operator holy grail," as it were, trucking for decades now in a 1981 Peterbilt 359 and hauling direct freight for customers that date back three decades for the owner: https://overdriveonline.com/15751895
Kelsey’s recent-history experience, too, stands as testament to the bedrock value of direct-freight relationships when the proverbial you-know-what hits the fan. With a "freight recession" ballyhooed by prognosticators time and again over the last three years, and spot rates down over the same period, Matt Cole asked Kelsey how he’d fared through tough times of these recent years.
"I really don't notice a change," Kelsey said, on the ground with his two principal customers. "I'm not No. 1 anymore" among independents hauling for them, given as he's progressed in his career he's not quite as consistently over-the-road as he was in past years. Yet general freight slowdowns he hasn't noticed. "I work when I want to work," and the loads are plentiful, always something availble, loading pipe outbound from the Phoenix and most often steel on the return. Invoiced, customers pay within days, too.
"I'm very fortunate," he added, but there's more to his business prowess than just following the tides of fate, as you'll hear in the podcast. He’s well set-up to weather anything that comes, ultimately, and has come a long way himself from the young man who would end up inking a deal for his 1981 Pete after two-stepping with the owner way back in 1984. He’s hauled with it ever since, getting his authority 10 years later and building what the Kelsey's Trucking business remains to this day.
Hear his story in his words in today's episode, starting like many an owner-operator in a straight truck in vocational operations before a trial by fire over the road in the late 1970s.
Nominate your own or another deserving owner-operator business for the 2025 Trucker of the Year award via this link: https://overdriveonline.com/toptrucker
Overdrive Radio
Off the top of the Overdrive Radio podcast this week is the voice of fuel-payments provider Wex's Vice President of Global Anti-Financial Crimes William Fitzgerald, laying out a 1 in 12,000 transaction rate for detection of fraud over the company's entire fuel-payments network. That is, 1 in every 12,000 purchases are flagged as suspiscious, potentially fraudulent, and blocked in automated fashion among its millions upon millions of fuel transactions facilitated annually.
Translate that incidence to the roughly 350,000 fuel transactions National Association of Small Trucking Companies President David Owen knows move through the association’s own Quality Plus fuel network any given month, and that’s right at 30 transactions being held up by the system. William Fitzgerald was speaking at NASTC's annual conference to outline the evolving landscape of fuel fraud/theft for attendees and showcase tools within Wex's (and some other card providers') networks that are increasingly successful in helping carriers of all shapes and sizes eliminate fraud's impact. Along the way, too, the company's been able to reduce the rate of so-called "false positives," legimate fuel purchases held up by the card provider's systems. Fitzgerald's well aware such hold-ups can be particularly annoying, and unproductive. Illustrating the huge financial impact of stolen fuel, though, he asked this hypothetical question to a room of NASTC conference attendees:
"What would be an acceptable false-positive rate in your minds?" he asked. "How many good transactions would you be OK with me stopping to prevent a bad one?"
The goal is zero false positves, of course, as Wex and other card providers calibrate a variety of techs operating in the network's background to get there, in addition to more human-focused efforts aimed at education to prevent account takeovers and the like that can bring the biggest hits to a fuel buyer’s bottom line. Results from ongoing efforts at Wex in particular have been good in recent months, he said. "We've got overall, over the last 10 months, a 25% reduction in losses, a 32% reduction in false positives," and a big increase in detection, too, he said.
Those results he attributed largely to technical innovations in company’s network, some described in part in a recent paper authored by the company you'll find at this link: https://www.wexinc.com/wp-content/uploads/2025/09/WEX-Closed-Loop-Fleet-Card-White-Paper.pdf
But the human element in fraud prevention might be the biggest factor any size carrier can address to make the most gains in preventing losses, empowering themselves through self-education and passing that on to team members for those of you with more than just a single truck under your management. "We've seen the most yield" in fraud prevention, he said, "with education and empowerment."
Fitzgerald described efforts of Wex to illustrate the kinds of schemes that might result in infiltration of its own backend, including simulated phishing attacks through targeted fake emails designed to get a user to provide access to their login data with a goal of compromising accounts. Wex sends such emails to its own employees on occasion to lure them in, thus serving an educational purpose in awareness. Their most "successful" such an effort? An offer of "free Taylor Swift tickets. Everybody clicked on that," Fitzgerald said.
In the podcast, track through Fitzgerald's entire NASTC talk, tracking through those backend upgrades but also plenty more you can do to work with the company's team and tools in its system, like its SecureFuel solution, to prevent fuel theft. Likewise, should the worst, to work with law enforcement to apprehend the thieves.
Mentioned in the podcast:
**'Personal cyber hygiene' in age of social engineering hacks: https://www.overdriveonline.com/15755615
**More from NASTC's conference on insurance, ELD data: https://overdriveonline.com/15770374
