As outlined in our member notice issued on 12 November 2025 titled How criminal gangs are 'piggybacking' on legitimate businesses to flood Australia with illegal tobacco, Freight & Trade Alliance (FTA) referenced a recommendation to the Australian Border Force (ABF) for mandated direct EFT payments to the Integrated Cargo System (ICS) by importers. This measure aims to reduce the risk of "piggyback" corporate identity theft by ensuring funds flow directly from the cargo owner.
Since issuing that notice, FTA has been inundated with support from customs broker and freight forwarder members. In addition to the security benefits, members have highlighted a major commercial advantage in the current economic climate (marked by tightening cashflow and a rise in insolvencies) in that direct importer payments would remove the financial burden and exposure associated with customs brokers and freight forwarders outlaying duty, GST and government cost-recovery charges on behalf of clients.
This strong response has also renewed FTA's focus on the broader issue of trade credit risk within the sector.
While many members already hold trade credit insurance, others have advised that they have treated such policies as discretionary due to the high cost of premiums.
Considering this feedback and in parallel with our ongoing advocacy for reform, FTA has engaged with Capital Trade Credit Solutions to explore the development of a group trade credit insurance program, leveraging the economies of scale of our extensive membership to secure enhanced policy features, broader coverage, and significantly reduced premiums.
To assess the viability of establishing this program, we are seeking member feedback on the following:
- Do you currently hold a Trade Credit Insurance Policy? (Yes/No)
- Which provider is your current policy with? (QBE, Atradius, Coface, The Bond & Credit Co, Allianz)
- If FTA secured a proprietary and preferential offering with substantial premium savings, would you be interested? (Yes/No)
- If you are unfamiliar with, or do not currently hold, Trade Credit Insurance, would you be open to exploring it? (Yes/No)
Survey available HERE
We thank Capital Trade Credit Solutions for supporting this initiative and look forward to introducing their representatives to members at the upcoming FTA Christmas Networking Functions, where they, along with other sponsors, will be participating.