Travelling nowadays has become a necessity. In their spare time or on business, people want to move rapidly and comfortably, that’s why Airlines Companies are making their standard higher and higher, offering real life experiences, especially for international flights.
They heavily invest in safety and employees training. These safety politics are strict to secure the traveller and employees but also to maintain assets in perfect condition (the aircraft). Physically protection of passengers is obviously the first objective, but protection of revenues is important, too.
Civil aviation industry is highly influenced by the oil price, quite volatile, that deeply affect revenues. For this reason companies hardly try to keep track every reservation.
Booking a flight is now completely digitalized process. Customers demand for competitive prices combined with a quick booking process and immediate confirmation, leaving a minimum time to review the order and authorize the transaction. After that, it needs some days to recognize the fake transaction and, by that date, the reservation will be already over.
Online frauds do not distinguish between traditional Airline Companies or low-cost ones. They act independently affecting total revenues of the industry.
Let’s imagine that a fraudster succeed to book 5 tickets, using pilfered miles from loyal customers' account. This will affect the Revenues per Seat Available, that is the most important unit to measure profitability in this market. Fraudsters frequently use stolen credit card to purchase airline tickets, in order to obtain the confirmation number, and then cancel them. They'll sell these tickets to third-party through sites such as Craigslist in the US or eBay everywhere else, explaining the reason why they will not be able to take the flight. They'll reveal the confirmation number in order to increase the reliability of the transaction and create a SCAM scheme.
This industry records losses for USD 1 billion a year.
The only way to fight fraudsters is through prevention.
This is why we highly recommend strong fraud prevention systems to Airline Companies, as UnFraud, capable to work in real time and prevent any kind of fraud.
Our system is able, through Artificial Intelligence, to automatically recognize behavioural patterns of fraudsters. It monitors the entire booking process, providing an immediate feedback about the single transaction. In addiction it will continue learning, adapting to new frauds as long as they appear. Everything will be upgraded automatically, directly on cloud and without maintenance.