How Phishing Attacks are Hitting the Supply Chain – and How to Fight Back

The global supply chain is the backbone of the world’s economy. From suppliers and manufacturers to transporters, retailers, and consumers, every step is interconnected. Yet, as powerful and efficient as it usually is, this vast network is highly vulnerable to disruption. A cyberattack can delay shipments, halt construction projects, or leave manufacturers unable to get the parts they need—whether it’s for electronics, medical supplies, or even everyday goods.

For consumers, it means missing out on the products they rely on, facing longer wait times for deliveries, or even seeing prices skyrocket as shortages set in. When cybercriminals target supply chain operations, the ripple effects can be devastating. One of the growing threats in this space is phishing scams – specifically, double brokering fraud attacks.

In the past few years, freight and transportation companies have faced an alarming rise in these scams. Complaints relating to double brokering have surged by 400% since 2022, with 50% of freight brokers naming it their top concern. Attackers impersonate legitimate transport companies, tricking victims into divulging sensitive shipment details, which are then intercepted or redirected for financial gain.

Double Brokering: The Hidden Cyber Threat Affecting Global Transport

Double brokering scams are particularly effective because they exploit the fast-paced nature of the logistics industry, where efficiency and cost savings often outweigh thorough vetting processes. Here’s how they work:

Using phishing emails, they gain access to shipment details – such as pick-up, destination, size, and scheduling.

Once they secure the job, instead of transporting the shipment themselves, they pass it off to a legitimate carrier – often a real trucking company that believes it has been hired for a normal job.

The scammer collects payment from the original client but never pays the actual carrier, pocketing the money and then disappearing – long before the fraud is discovered.

Why Phishing is the Perfect Vehicle for Double Brokering

Phishing is the go-to tactic for double brokering scams because it doesn’t rely on hacking technical systems – it preys on human error. A simple click on a malicious link or an unwitting disclosure of shipment details can be enough to set a scam in motion.

The threat intelligence landscape has become increasingly complex, with cyber threats evolving every day. This is why cybersecurity requires collaboration across industries. If you are interested in contributing find out more here: https://www.techradar.com/news/submit-your-story-to-techradar-pro

Protecting the Global Supply Chain Against Phishing and Cyber Threats

Protecting the global supply chain against phishing and cyber threats isn’t just an individual responsibility – it requires industry-wide collaboration. Given the complexity of modern logistics, mitigating cyber risks depends on businesses, industry groups, and regulators sharing knowledge, threat intelligence, and best practices.

Cyber Resilience Starts with Awareness

Raising awareness, investing in advance technology, and promoting a secure culture can significantly reduce the impact of phishing scams and double brokering fraud. Cyber resilience must be a priority for transport companies. This means identifying weak links and addressing them proactively.

Industry Collaboration is Key

The threat landscape is constantly evolving, and so should our response to it. Industry-wide collaboration is critical to mitigating cyber risks and protecting the global supply chain. By sharing knowledge and best practices, businesses can work together to prevent cyber threats and promote a safer future for global trade.