How Freight Exchanges Contribute to Cybersecurity

Digital freight exchanges are an integral part of the transport and logistics sector, efficiently connecting companies and facilitating real-time transactions. Handling sensitive data is essential – from contact information to pricing agreements and business documents. Protecting this information is no longer just a legal obligation but a prerequisite for business success.

(Erkrath) Transport and logistics companies are in the crosshairs of cybercriminals. According to a study by the Federal Association of Logistics, every second company has been the victim of a cyberattack at least once within five years. Despite these figures, many companies still handle sensitive information carelessly. It is time for a change, and we must view data about companies, partners, and customers as what they are: a valuable asset that needs protection.

How Users Protect Their Data in the Spot Market

1. Individual User Access: If a freight exchange is used by multiple users, each user should have individual access. Access for former employees should be promptly deactivated.
2. Use Strong Passwords: Passwords should be unique. Each login should therefore be secured with its own, individual, and strong password. Password managers are recommended to generate and manage complex and secure passwords.
3. Two-Factor Authentication: If a multi-step identity verification function is offered, it should definitely be used. This security feature provides an additional layer of protection against identity theft and unauthorized account use.
4. Targeted Visibility: Only the absolutely necessary information should be disclosed on online marketplaces. In freight exchanges, this may mean disclosing company documents only in the event of a business transaction or sharing information about the shipment only via shipping status and ETA.
5. Secure Communication Channels: Protected communication channels prevent data loss and increase security. Freight exchanges often provide messengers for this purpose, allowing business partners to exchange information bilaterally and send documents and freight details.
6. Careful Examination of Offers: With new business partners, it is advisable to verify their identity through official sources such as the commercial register. Additionally, it is particularly important to adhere to secure communication channels and, in the case of email communication, to verify the sender’s address against the company profile of the freight exchange.
7. Caution with Payments: Payments should only be made within the agreed process, and caution is generally advised with suspiciously unbeatable offers.

What Online Freight Exchanges Should Contribute to Data Protection

All these tips relate to the secure handling of data by users of freight exchanges. But what should online marketplaces themselves offer to protect their users’ data?

Technically, online marketplaces should protect their users’ data through strong access control, multi-factor authentication, established encryption standards, protective mechanisms such as firewalls, DDoS prevention, and role-based access concepts. Furthermore, users of digital freight exchanges should be able to decide who can see how much of their information.

At TIMOCOM, data protection is not just a legal obligation but a promise to customers. For this purpose, employees are trained in handling sensitive data through internal awareness programs and a specially developed interactive exit room.

Data Protection as a Success Factor

Companies in the transport sector should view data protection not just as a legal obligation but as a potential success factor. Through simple adjustments and active involvement from all parties, risks can be significantly minimized. Protecting sensitive data is crucial for a trustworthy and efficient collaboration. Those who are aware of this and train their employees accordingly can use digital freight exchanges as securely as any other online marketplace.

Niko Härig is co-leader of the Data Protection Working Group of the Federal Association of Corporate Lawyers (BUJ) and Data Protection Officer at TIMOCOM

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