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
Three loads -- $2.30, $3, $10/mile: Which haul would you choose? Profit analysis might surprise you
Overdrive Radio
35 minutes 14 seconds
3 months ago
Three loads -- $2.30, $3, $10/mile: Which haul would you choose? Profit analysis might surprise you
This week's edition of Overdrive Radio takes a deeper dive into Overdrive's relatively new Load Profit Analyzer tool: https://overdriveonline.com/load-analyzer
Go there and pull up the analyzer to follow along with this detailed walk-through with owner-operator business coach and longtime Overdrive contributor Gary Buchs. As regular readers will likely recall from when it was introduced late in 2024, the Analyzer was in part inspired by Buchs’ own efforts at individual load profit analysis, tracing back to his decades as owner-operator himself. (Gary retired from the road in 2019, yet continues private efforts as a mentor/business coach to other owner-operators.)
I brought Gary on to talk us through a few divergent load examples in hopes that more owner-operators in the audience might benefit from what is in essence a fairly simple calculator, but might also be a powerful personal accountability tool for business performance long-term.
So, with this episode, get to a spot where you can pull out the mobile device or laptop and go to https://OverdriveOnline.com/load-analyzer
We'll run through the three cost-input fields you see there, namely:
**Fixed cost per day under load
**Salary per day under load
and **Variable cost per mile
Then analyze results for three different loads all originating in Dallas with offers at wildly different rates: $2.30, $3, and a whopping $10/mile on a short haul. When it comes to profits, though, results from the analyzer might be surprising if you closely take into consideration the impacts of time spent on each load. Set up with all those different cost metrics, considering your contribution to your home budget's needs in the salary on the expense side of the equation, fundamentally the analyzer is set up to help you do that with a close eye on business profits.
There are always dozens of variables at play in load selection and post-delivery analysis, but engaging with your own numbers with the tool we hope helps yield better profit results over time, as Gary likes to say, as you "touch those numbers" routinely. Give it a whirl with today's podcast.
More from Gary on the topic of negotiations in this past Overdrive Radio edition: https://www.overdriveonline.com/15736582
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
