Tackling card fraud in the travel sector

The fact that travel companies face a higher rate of card fraud than any other UK industry was a hot topic at the Travel Directors' Summit, a travel industry conference, last week.

It was discussed that card-not-present fraud was responsible for the increasing fraud loss for retailers even though overall card fraud is actually falling.

The total cost of card-not-present fraud to UK business reached £227 million last year which is almost two-thirds of total card fraud for this period.

Due to most travel being sold remotely, online or over the phone, it makes this industry a target for fraudsters. Unfortunately travel companies more often than not bear the cost of the fraud loss making it a huge concern for the industry.

192business will be hosting a Travel Fraud Forum in November, please email id@192.com if you are interested in attending and would like more information.