The Airline Online Fraud Survey, commissioned by CyberSource
Corporation, revealed that airlines lost $1.4 billion in 2008 due to
cases of online crime. This loss is just over 1 percent of airlines'
total annual revenue.
In order to tackle the increasing threat of online fraud, airlines are using fraud detection tools and screening technologies, but the report shows that more needs to be done and airlines need to implement better security procedures.
Dr Akif Khan, Head of Client and Technical Services at CyberSource in the UK, said: "These findings highlight the need for airlines to adopt a more automated, holistic approach to fraud management – from initial screening through booking review and disposition.
"Improving the accuracy of automated screening is key. In doing so, they can reduce overhead costs associated with manual review, as well as improve revenue capture and lower fraud loss. With the right tools, airlines can realize these benefits in a matter of weeks – not years."
© Adfero Ltd
