Descartes Unveils FraudGuard 2.0 to Safeguard Against Freight and Cargo Fraud

Descartes Systems Group Inc. has launched Descartes MacroPoint FraudGuard 2.0 to combat freight fraud and cargo theft. The updated technology offers enhanced capabilities across different stages of shipments, helping businesses identify risks like identity fraud and double brokering to prevent financial losses.

The new FraudGuard 2.0 leverages historical and real-time data to provide in-transit risk monitoring and alerts. Features include Carrier and Driver Lookup Tool, Custom Carrier Insights, and In-Transit Risk Monitoring to detect anomalies like GPS spoofing. These enhancements offer greater visibility and control to prevent fraud-related losses and protect brand reputation.

Descartes reported Q1 earnings that fell short of estimates due to a volatile macroeconomic environment. Despite revenue growth, the company faced challenges from shippers and carriers. To address this, Descartes acquired 3GTMS and launched a cost-reduction plan, including workforce cuts, to achieve annual savings once fully implemented.

DSGX’s Zacks Rank is currently at #3 (Hold) with a stock price performance of 2.1% over the past year. In comparison, the Computer Software industry saw growth of 14.3%. Other stocks to consider in the same space include Intuit Inc., Microsoft Corporation, and ACI Worldwide, Inc., each with strong earnings performances and stock price growth in the past months.

Zacks Investment Research has highlighted Descartes’ efforts to combat fraud in the freight industry with the launch of FraudGuard 2.0. The article provides insights into the new features and capabilities of the technology, emphasizing the importance of enhanced security measures to protect businesses from potential threats and losses.

Read more at Nasdaq: Descartes Launches FraudGuard 2.0 to Combat Freight and Cargo Fraud