Applied Systems President Discusses Payment Fraud in Trucking Sector
1 report, 1 independent
Updated Oct 7
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What happened
Chase Petrey, president of strategic business units at Applied Systems, described a fraud pattern within the trucking sector during an interview at Applied Net 2026. This fraud involves carriers binding standard insurance policies and receiving an upfront minimum initial payment, even if the subsequent check is insufficient funds.
Why it matters
Petrey stated that agencies are losing money due to payment fraud in trucking. He argued that the fraud relies on a float window, and the solution is implementing real-time digital payments to confirm fund availability immediately.
Who's involved
- AppliedApplied Systems, where Chase Petrey serves as president of strategic business units
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The entities involved
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Applied
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