Your credit card or loyalty account was compromised, Facebook might be the reason, says newly formed Loyalty Fraud Prevention Association.
Compromised credit card accounts, and now more than ever compromised loyalty program accounts, are an ever-growing problem for consumers. Fraudsters hack, breach or otherwise steal accounts and then often sell them online. This may be done in plain site via Facebook. The Loyalty Fraud Prevention Association (LFPA) calls on Facebook to police this issue to protect consumers. This problem, among others related to loyalty fraud, will be discussed at the LFPA Conference in Atlanta on May 24th and 25th.
Peter Maeder, Secretary of the Loyalty Fraud Prevention Association says:
“Any quick search for pages in Facebook for stolen credit cards will yield many pages and users selling stolen account data. These fraudsters are now finding loyalty program accounts to be an easier target. Our members, which include some of the largest travel companies in the world, have reported this issue to Facebook, but have had little or no success removing the pages.”
The result is that loyalty programs and their members are becoming the victims of fraud costing tens of millions of Dollars annually. To address the growing phenomenon, the Loyalty Fraud Prevention Association (LFPA) will be gathering executives from loyalty programs from throughout North America and the world in Atlanta on May 24th and 25th of May, 2017. In addition to acting as an industry to stop Facebook and other Social Media sites from spurring fraud, issues to be discussed in this conference will include: Employee-driven loyalty frauds; Bot attacks on loyalty programs; Stopping fraud on the Dark Web; and the latest IT-solutions that combat loyalty fraud.
More information about the conference can be found at www.LoyaltyFraudAssociation.org
About the Loyalty Fraud Prevention Association (LFPA)
The Loyalty Fraud Prevention Association was founded in 2016. Its mission is to support the loyalty industry in its fight to reduce and eliminate fraud. Members consist of airlines, hotels, IT providers, financial services companies and others who operate loyalty programs from around the world.
For more information, visit www.LoyaltyFraudAssociation.org or find us on Linkedin.
LFPA / Press