Airlines lose $1.4 billion annually to online fraud and Online Travel Agencies (OTAs) are top three target for card-not-present (CNP) fraud. Revenues suffer, too, as fear of fraud leads to higher false positives. Finally, lack of automation results in too many manual reviews, the slowest and most expensive way to fight fraud.
Kount’s multi-layered approach combines advanced screening technologies, Big Data, Artificial Intelligence (AI), and fraud prevention expertise to reduce fraud, boost sales and minimize fraud mitigation expenses.
- Last minute booking charges: Order Linking and Velocity technologies automatically thwart this common fraudster tactic.
- Slim margins: Decrease chargeback rates by as much as 98%, and boost profitability.
- Excessive False Positives: Increase order approval rate with better data and automated/AI analysis.
- High operational expenses: Automation virtually eliminates costly manual reviews.
Air Travel Fraud-Fighting Resources
eBook: Fraud Takes Off in the Travel and Leisure Industry
The fluidity of bookings combined with last-minute changes make fraud prevention particularly difficult for any online travel and leisure company.
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