Fraud risk for travel trade

Published on Monday 6 July 2009 10:09

TRAVEL companies are braced for an increase in fraud attempts during the holiday season, as the recession leads to a rise in financial crime.

Airlines and travel agents have warned the sector is an attractive target as it tries to boost flagging sales but lacks the safeguard of chip and pin transaction security.

Criminals are taking advantage of the complexity of the industry, using fraudulent cards to book costly holidays, then claiming refunds.

The industry is seen as vulnerable as high-value products are sold over the phone or internet.