LOYALTY SCHEME FRAUD A MAJOR AND GROWING PROBLEM
July 30th, 2022
LOYALTY rewards fraud is on the rise. USD1.2 billion’s worth of stolen airline miles alone are being sold on the dark web, says USA–based fraud prevention expert Forter. Subverted loyalty accounts can be a major problem, given 21% of loyalty accounts have credit card details attached, it says. Loyalty schemes need better security. Poorna Rodrigo reports.
CUSTOMER loyalty schemes are an increasingly lucrative target for fraudsters targeting the USD48 trillion’s worth of loyalty points saved by customers globally every year, according to USA–based ...
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