As vaccination and containment efforts progress, many economies are ready for a promising summer with hotels, airline travel, entertainment parks and other businesses preparing for a surge.
This also means many customers are anxious to access their loyalty programs and redeem the multitude of accrued miles and points they have been saving during the pandemic. As these loyalty accounts remained mainly dormant during the past 12 months, many members have not accessed their accounts at all, let alone updated passwords. Couple this with 37 Billion records breached in 2020 alone, and the risk to theft of miles and fraudulent account access has increased exponentially.
Loyalty fraud can be overseen, however hotel points, air miles and other points programs are essentially a form of currency, just as valuable as cash or credit cards. The breach of loyalty accounts can be as damaging as traditional forms of account-centric attacks on monetary accounts. By accessing a person’s loyalty information, fraudsters can transfer points to their own accounts for direct purchases of services such as flights and hotel rooms, or equally for resale on the dark web.
Join our webinar, to find out what the travel and entertainment industries need to do to prepare for a smooth reopening, prevent loyalty point fraud, and proactively ensure their customers enjoy a safe summer – in every sense of the word!