The media in Italy indicate that, after 6 years into the crisis, the difficulties being experienced by Italian companies are not overcome, yet. On the contrary, many of these companies managed to survive the economic crisis but now have become unable to meet payments to their suppliers.
It is not surprising that, according to Coface, worldwide leader in credit insurance, fraud in business grow daily in countries like Italy and Spain. In the case of Italy, the trend that has been increasing in recent years is that such fraud is committed by identity theft to an existing company.
In the case of Italy, according to the Osservatorio Frodi Creditizie CRIF, this type of fraud has become so important that the international trade is being affected because of the fear of contacting companies to which there is no certainty of their reliability. If a fraud has been committed, there is no legitimate right to charge to the company whose identity has been impersonated.
This phenomenon is especially prevalent in the transport industry where it is necessary to take precautions and strengthen the identification control and seriousness of the customer or supplier. Therefore, Wtransnet has been working on the development of tools to work in an environment of trust when is taking freights and trucks from the exchange. Moreover, it is the only Exchange offering an online payment guarantee service.
Thus, Wtransnet has gone ahead with its commitment to an expansion in Italy by building a network of trust and security, as echoed in its latest issue Il Giornale della Logistica, reference publication in Italy: One of the distinctive proposals of Wtransnet is to ensure a professional, safe and reliable working environment. Also, Wtransnet has been pioneer in creating a freight and truck Exchange with access only by references with the intention of mitigating the distrust in the Italian transport caused by the numerous identity thefts. This means that, in addition to overcome the qualify filters system QAP (Quality Assurance Policy) which provides rigid access controls, any company that wants to join Wtransnet has to indicate names of companies that are already part of our Exchange and are in a position to recommend and guarantee their professionalism and integrity. In fact, as Il Giornale della Logistica points out, in 2012 from the 3.400 membership applications received, only 1.228 were accepted, representing 36% of the total.
On the other hand, Cargo Plus, the advanced Freight Exchange, has managed to create a place of maximum security and trust with the possibility of offering the freights first to the usual contacts and then to the public Exchange, where all companies have likewise passed the QAP system.
In both cases, these systems have helped Wtransnet to find a way of responding to the widespread concern in the sector about recent events related to fraud and identity theft.