One of the most successful sectors of all time, the travel sector is extremely important in the contemporary setting. It centers around people or groups moving from one location to another for travel or business. However, it is facing a greater number of travel scams. Both travelers and businesses are at risk of falling victim to fraud and scams. Malicious actors have successfully employed cunning strategies and, regrettably, achieved their nefarious goals. No sector of the financial system is safe from dishonest and fraudulent people. But one way to decrease travel fraud is through identity verification services.
Let’s dive deeper into the many forms of travel scams and ways to prevent them by using online identity verification.
The 4 Types of Travel Scams
1. Digital Data Breaches
The travel sector is negatively impacted by data breaches caused by online booking systems. Consumers’ sensitive and important information that cybercriminals access illegally, endangering the company’s brand and the privacy of its customers.
In 2018, a very well-known travel booking service became the target of a data breach, exposing the customers’ personal information, including debit and credit card details. An intentional hack that took down the email system and screen displays of an international airport in the year 2019 is another case.
2. Payment Details Theft
Theft of the payment card information is one of the most frequent and simple travel frauds. Hackers create customized software and grab credit card data to get login into cardholders’ accounts. These delicate credit card numbers are used by hackers to carry out fraudulent transactions.
3. Spike in Hotel Prices
The collaboration of scammers and hotel managers is what they use to carry out these terrible travel scams. Online travel agencies have to pay expensive chargebacks as a result of this strange scam, which harms their reputation and causes them to lose money. Chargebacks and credit card scams can be significantly decreased with the use of a biometric identity authentication method.
4. Last-Minute Bookings
The bulk of impersonators takes advantage of last-minute bookings by purchasing tickets within 24 to 48 hours. These transactions are among the biggest travel frauds because they use credit card information that has been stolen but has gone unreported. Once the impersonator has checked in for their trip, agents are not able to cancel a reservation in such a short period.
Identity Verification – Minimizing Travel Scams in the Digital Era
All travel agencies must implement ID verification procedures to decrease travel fraud. To reduce data thefts, travel providers should take additional security measures. Travel agencies should implement appropriate procedures and train staff to maintain the secrecy of the client’s sensitive information even after deploying a gate.
One effective approach for identifying and stopping travel fraud is biometric identification verification. In order to build a trustworthy business reputation among clients and travel agents, these verification systems are crucial.
Incorporate ID Document Verification
To prevent document frauds, travel firms must ensure that only legitimate individuals have access to digital sites. Before making an online ticket purchase, this can be ensured by running customer identification document verification procedures.
When online clients pay with passports credit cards, and ID cards should be subject to document verification procedures. Verifying ID documents can also help airports avoid long lines and hassles at the main desk. Airports can effectively comply with AML requirements and find those on watchlists with document verification.
Adopt Biometric Verification
Biometric verifications are part of online identity verification systems that make sure users are who they confess to being. Facial recognition technology conducts live detection to confirm clients. Then, these real-time detections should be checked by comparing them to identification documents. By carrying out these KYC verification assessments, check-in times for customers can be drastically decreased.
It makes customers’ online transactions simpler to improve user experiences and build a great brand image. The biometric identification procedure, for instance, makes sure that the customers value cutting-edge solutions to stop fraud and data breaches. Furthermore, this will improve the company’s reputation organically among customers and other firms.
To Conclude
Technological advancements have had a substantial impact on both the corporate sector and the criminal activity rate. Although it has digitized the operations in the travel industry, ineffective verification mechanisms do little to keep them safe from travel scams. Face detection and document verification are robust security techniques that this industry may use to provide the complete protection that one truly needs. Face verification systems perform real-time checks for spoof assaults, deep fakes, and fabricated identities. Thus, there is no opportunity for scammers to depart a country after achieving their nefarious ambitions or con travel companies for any advantages.
