Travel Industry Payment Transactions at High Risk for Fraud

Travel Industry Payment Transactions at High Risk for Fraud

August 29, 2019

Payment transactions in the travel industry are at high risk for fraud, according to a new report from Arkose Labs. The San Francisco-based cybersecurity company’s Fraud & Abuse Report Q3 2019 report analyzed over 1.2 billion transactions spanning account registrations, logins and payments from financial services, e-commerce, travel, social media, gaming and entertainment industries. The report found that one in 10 transactions are attacks, ranging from automated bots to malicious humans.

Payment transactions in the travel industry are 10 times more likely to be attacked, especially from automated bots looking to block inventory, leading to denial of inventory attacks or a significant increase in ticket price. Arkose Labs also found that almost 10 percent of all login attempts on travel sites and 46 percent of all payment transactions for travel are fraud.

“Travel companies are under attack from fraudsters trying to make fraudulent purchases, conduct denial of inventory attacks or steal hard-earned customer loyalty points, which are essentially liquid cash,” the report summary states.

The report also reveals that the retail industry experiences the highest volume of human-driven attacks, with more than half of attacks conducted by humans, rather than bots.

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Joan Goodchild