Online fraud costs airlines over $1.4 billion a year
Airlines worldwide lost over $1.4 billion to online fraudsters in 2008, according to new research by CyberSource Corporation. The investigation, which was completed in January, found the amount lost equates to around 1.3% of worldwide airlines’ online revenue. CyberSource said airlines are on the front line of the battle against online fraud because 33% of their revenues derive from eCommerce - three times the proportion of sales transacted online by non-travel companies.
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