CyberSource today announced the general availability of its Airline Online Fraud Report, a comprehensive study of the impact of online fraud on the airline industry.
CyberSource commissioned the study in association with Airline Information LLC.
“eCommerce is one of the most important sources of airline revenues,” said Dr. Akif Khan, head of client and technical services at CyberSource, “with about a third of all bookings deriving from the online sales channel.
“So this form of crime is of paramount concern to our airline customers and to us. We hope this study will enable all who care about the industry to better understand fraud, its implications, and possible solutions.”
According to the report, airlines worldwide lost over $1.4 billion to online fraudsters in 2008, about 1.3% of worldwide airlines’ online revenue.
CyberSource Corporation’s broader annual study of eCommerce fraud is now in its tenth edition in the U.S. and fifth annual edition in the UK. The reports have been cited in scores of publications and government studies over the years.
This first in-depth look at online fraud in the global airline business examines key metrics and discusses real-world payment management tactics that can be implemented by airlines to improve business efficiency and profitability.
The Airline Online Fraud Survey was commissioned by CyberSource Corporation in association with Airline Information LLC.
The data was compiled in an online survey conducted by Mindwave Research in the U.S., and additional phone follow-ups were conducted by Vanson Bourne Ltd in the UK.
The surveys were fielded December 1, 2008 through January 16, 2009 and yielded 99 qualified and complete responses.