Air travel 'remains target for online fraud'

6 May 2009

The worldwide air travel and tourism industries remain among the top targets for online fraud - although changes in banking technology mean the sectors are no longer among the hardest hit by the crime, payments association Apacs has said.

According to the organization, air travel has long been attractive to internet fraudsters because they can use stolen card details to book flights online.

Figures published last month by CyberSource show the worldwide airline industry lost $1.4 billion to online fraud in 2008 - the equivalent to around 1.3 per cent of the sector's global revenue.

However, in the UK, the introduction of payment verification services such as Verified by Visa and MasterCard SecureCode have been particularly effective in limiting the losses from online fraud, Apacs said.

The organization's head of PR Jemma Smith said that losses to online card fraud topped £16.5 million in the airline industry last year.

The overall total was £609.9 million - up 14 per cent on 2007.

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