Every transaction counts, so fraud rules can’t be too tight!

Travel suppliers and intermediaries are attempting to revitalize their respective businesses, offering discounts and coupons to boost consumption. This means every transaction counts and a risk-averse mindset – i. e. rejecting a transaction than to risk passing a fraudulent one – won’t work, wries Ai's Ritesh Gupta 

25th June, 2020

 

A major lesson from the Covid19 pandemic when comes to balancing UX and security is to make the most of available data.

Do away with a mindset that is commonly associated with rule-based systems, which is built with hard rules or buying limit.

“Every transaction counts and fraud rules can’t be too tight,” Microsoft’s Sondra Feinburg told Ai’s Ritesh Gupta in a recent interview.

 

 

Some key points:

  • Data makes difference. As Braintree asserts, more relevant data facilitates more automated learning that can be applied to risk decision-making.
  • Focus on separating a “good customer from a bad customer”. Too much authentication in shopping can upset the shopper. Strike the right balance between payment fraud protection and approval rates.
  • Evaluate a multidisciplinary approach that combines big data, predictive analytics and real-time machine learning.
  • Ongoing monitoring is essential – Machine learning models need to be trained, tested and re-trained as fraud trends evolve, points out ACI.
  • More customers are preferring contactless payments. Work on authentication strategy for a mobile experience.
  • Only dealing with rules have a limited scope, as they are reactive and tend to be about fraud to happen basically. Have a layer of adaptive AI in order to learn the patterns.

 

Follow Ai on LinkedIn: https://www.linkedin.com/company/airline-information/?viewAsMember=true

 


Ai Video: Dealing with a spike in chargebacks owing to #Coronavirus

15th May, 2020  

Interview with Chargebacks911's Harlan Hutson

Chargebacks are complex and quite expensive to process. The travel industry needs to prepared for the same.

 


Ai Video: Nethone's Rodrigo Camacho on managing fraud during crisis

Ai Video: Nethone's Rodrigo Camacho on managing fraud during crisis

29th April, 2020

Airlines are in a precarious situation, and it is tough to look beyond dealing with liquidity crisis. But there are certain issues that can't be ignored, and that includes countering the moves of fraudsters and scammers.

Ai's Ritesh Gupta interacted with Rodrigo Camacho, Nethone's Chief Commercial Officer about the same.

Camacho spoke about:

  • "Cleaning-up" technology integrations
  • Evaluating the tech stack for e-commerce and customer-centricity
  • Phishing, account takeover attempts etc.
  • Employee-related fraud - internal credentials
  • Tracking fraudsters' activity
  • Nethone's 100 days of free service and integration support

 


Ai Editorial: Disgruntled travelers gain vital tips to regain their money

23rd April, 2020

Travelers have been exploring options for claiming flight cancellation compensation, and are peeved at large that they aren’t getting their money back.

The going hasn’t been smooth for passengers, airlines and those involved in processing of payments owing to the coronavirus crisis. The fact that, there has been an explosion in credit card disputes, as Monica Eaton-Cardone, Chargebacks911 asserts, explains the same.

From a traveler’s perspective, there are vital tips available that can be used as a guide for how to file a credit card dispute, what to do in case a traveler booked a flight with airline miles etc. There have been numerous such cases, for instance in the U. S. and the U. K., that have been by highlighted by blogs and media.  

To the credit of the industry, the likes of Allegiant and Spirit are offering refunds to passengers who voluntarily and proactively cancel their own tickets. But that hasn’t been the case with others. In fact, it is being highlighted airlines in the U. S. are sitting on more than $10 billion in customer cash, instead of returning this significant sum of money to the American public.

In case airlines aren’t responding to a claim for refund, then don’t initiate cancellation on your own. If you do, then do consider whether the travel company is offering refunds to travelers who voluntarily and proactively cancel their own tickets during the crisis. Also, assess is your ticket refundable? How to get a refund a non-refundable airline ticket in the US (see a link below)

In case, airlines aren’t supporting those travelers who voluntarily wish to cancel, then playing the waiting game is the best option. So wait for an email, check the website etc. and then take action. For more details, here are useful links from the U. S. and U. S.:

How to make a claim under Section 75 of the Consumer Credit Act 1974 in the U. K.?

https://www.skyscanner.net/news/what-can-i-do-if-my-airline-goes-bust

https://www.headforpoints.com/2020/04/17/use-section-75-to-get-a-flight-or-hotel-refund/

https://www.which.co.uk/news/2020/04/flight-cancelled-can-i-get-a-refund-from-my-credit-card/

 

How to file a credit card dispute in the U. S.? What to do for flights booked with airline miles?

https://www.washingtonpost.com/lifestyle/travel/how-to-file-a-credit-card-dispute-for-your-canceled-vacation--and-win/2020/04/08/316e7b7e-7807-11ea-b6ff-597f170df8f8_story.html

https://www.bankrate.com/finance/credit-cards/canceling-flight-coronavirus-guide-to-getting-money-back/

https://thepointsguy.com/guide/how-to-refund-nonrefundable-airline-ticket/

By Ritesh Gupta

Ai Correspondent 

 


Ai Editorial: Strengthening security for remoteness and WFH

11th April, 2020

Global health crisis and quarantine has impacted our lives in a striking manner.

A couple of aspects that need to be assessed from security and fraud prevention perspective following the change in our work routine owing to the COVID-19 pandemic:  

  • Professionally people have had to get accustomed to video conferencing, #WFH etc.
  • Spurt in online shoppers, more mobile app use, fluctuating cart values and velocity etc.

Working from home could increase #cybersecurity risks.

One area of concern has been #ZoomBombing. Zoom has been graceful enough to acknowledge that it did fell short when it came to privacy and security expectations. Users need to follow the guidelines and recommendations on securing Zoom. For instance, Zoom has introduced a new icon. It simplifies how hosts can quickly find and enable many of Zoom’s in-meeting security features. Additionally, the Zoom Meeting ID will no longer be displayed on the title toolbar.

In fact, the main lesson would be keep all software updated and focus on unusual passwords, use two-factor authentication everywhere etc.

 Another issue has been e-commerce fraud.

As highlighted by ACI Worldwide this week, merchants are starting to experience dramatic increases in COVID-19-related phishing activities, with stolen credentials released into the eCommerce payments chain, as well as increased friendly fraud activities. The company also shared that average fraudulent attempted purchase value increased by $36 in March, driven by electronic and retail goods; this corresponds to a fraudulent attempted transactional value increase by 13 percent.

Here are few areas to look at from security perspective:

  • Rely on an organization’s tech toolbox- official devices with firewall and antivirus protection, along with security features like VPN and two-factor authentication. Engage frequently with web and mobile site security management.
  • Rely on VPN for encrypting data
  • Coronavirus-themed emails seeking personal information are likely to be phishing scams. If an email includes spelling, punctuation and grammar errors, it’s likely a sign of a phishing email. Delete the email.

Useful links:

Do’s and don’ts of videoconferencing security

Tips for merchants to maintain security

 

Ritesh Gupta

Ai Correspondent