Items tagged with online fraud

According to figures released by CyberSource Corporation, the airline industry has experienced significant online fraud. In fact, the airline survey commissioned by CyberSource reveals that airlines worldwide lost more than $1.4 billion to fraudsters in 2008. That figure is roughly equivalent to 1.3% of worldwide airline revenue. Online fraud can occur in several ways. Generally speaking, fraudsters use stolen credit cards to buy a ticket for themselves or they act as a travel agent to purchase a ticket for someone else. By the time the true card holder recognizes the fraudulent charges, the flight has been taken and the airlines have lost out on 100% of the revenue. U.S. airlines generally use... Read more...