Fuel card fraud is a big headache for fleet managers. It leads to massive financial losses and costly operational disruptions.
If you’re starting to notice fuel transactions that don’t align with your employees’ fuel card usage, now might be a good time to look into it before things get out of control.
Ready to tackle fuel card fraud and discover your ultimate fuel card management solution?
Many businesses either don’t know that they are experiencing fuel theft or aren’t using fuel monitoring software to properly track and identify instances of fuel card theft in their fleet. If fuel theft is not stopped in time, businesses are at risk of losing thousands in fuel costs monthly. Fuel monitoring and fleet management software are the answers to fuel theft and fuel card theft.
But before we discuss the solutions, let’s explore the basics of fuel theft.
Fuel theft is when someone takes fuel from vehicles without permission. In businesses, this can happen in different ways like syphoning or using unauthorised fuel cards. Businesses with a large fleet of vehicles can experience bigger more frequent fuel theft issues, causing them to lose a lot of money.
Fuel theft poses a challenge for businesses, and understanding common methods used is crucial for fuel theft prevention. There are several ways criminals steal fuel, here are a few popular trends:
This method is one of the most traditional. Thieves use a hose, syphon pump or in some cases, even their mouth to suck fuel directly from the vehicle’s tank into a container. This type of fuel theft is more likely to occur at night or in secluded areas to avoid being noticed.
This type of fuel theft occurs when gas station employees collude with thieves. The employee swipes the fuel card multiple times for a single transaction, resulting in multiple charges on the cardholder’s account. This method is difficult to detect as transactions are coming from a valid fuel card and fuel sensors won’t detect any unusual activity because the tank was empty and needed a refill, justifying the purchase.
Fuel card fraud occurs when unauthorised individuals obtain and use a company’s fuel card to purchase fuel for their vehicles. This can be done by stealing a physical card, skimming card data at fuel stations, or using stolen card information to create fraudulent transactions online. These cloned cards can then be used to purchase fuel at any filling station.
Fuel theft can have a significant impact on businesses, affecting various aspects of operations. To put it more into perspective, here are 3 ways fuel theft can hurt a business:
Every fleet manager’s priority is to enhance the efficiency of their fleet and keep it running smoothly, but one of their greatest concerns is keeping fuel theft at bay. Every unauthorised swipe of a fuel card can significantly impact your business’s bottom line, making fuel card fraud prevention an essential aspect of fleet management.
A fleet management system can help fight against fuel card theft by implementing various security features and monitoring mechanisms, here’s how:
As drivers attempt to refuel, the system instantly checks the transaction against these safety features and flags the transaction if it goes against set limits. Implementing these security measures enables fleet management systems to significantly reduce the risk of fuel card fraud and help protect your business from financial losses.
Here are a few ways Cartrack’s fleet management software can help you in your challenge against fuel theft:
Our smart cameras can be a valuable tool for fleet managers in investigating fuel card theft events. By providing real-time video footage and advanced analytics, these cameras can help identify potential suspects in fuel card theft or fuel syphoning events, gather evidence, and deter future thefts if criminals see visible cameras on fleet vehicles.
MiFleet is a cost management system that monitors all your fleet’s administration and running costs, including speeding tickets, toll fees, licence renewal dates, maintenance, and of course fuel expenditure. In terms of fuel card theft, MiFleet analyses fuel card transactions and automatically cross-references them with your vehicle’s telemetry data to quickly identify possible fuel theft risks.
What makes businesses love Cartrack’s fuel monitoring system:
RichLand Logistics delivers technology, petrochemical, consumer goods, manufacturing, oil and gas, and freight-forwarding services to South East Asia, with over 40,000 monthly deliveries.
Facing the challenge of efficiently tracking their fleet’s fuel usage to reduce operational costs and improve productivity, they turned to Cartrack.
Our fuel sensors provided valuable insights, allowing managers to identify efficient drivers and vehicles during deliveries. By evaluating l/km per vehicle and addressing unproductive idling and speeding, RichLand Logistics made strategic decisions to significantly cut down operational travel and overall fuel costs.
RichLand Logistics benefited from Cartrack’s expertise and industry-leading solutions, let us do the same for your business. Choose Cartrack for unparalleled fleet management that ensures success.
Increase visibility on your fuel transaction and fuel consumption all with one comprehensive fleet management solution — Cartrack Swaziland.
Implementing our security measures will not only significantly reduce fuel fleet costs but will also reduce the risk of fuel card theft.
Take the first step in saving your fuel, contact Cartrack Swaziland today.