Online Fraud Prevention
A new crime-busting initiative, designed to protect travel agents and tour operators from the rising tide of credit card fraud in the UK, has been implemented by the association of British Travel Agents. (ABTA)
Although online trading has multiple benefits, it is becoming increasingly apparent that issues of verification and authenticity are being generated from this phenomena. Card Not Present (CNP) fraud, otherwise known as remote credit card fraud, is a serious crime and is becoming an increasing problem for those organisations that sell to customers over the phone, or on the internet. It has been recognised that the travel industry is an prime taget for fraudsters. Ticket and holiday purchases made over the internet can not usually be verified with a signature from the consumer. It is therefore common procedure for an agent, or tour operator to accept payment without one. If the purchase does turn out to be fraudulent, it is the travel agent/ tour operator who is fully liable.
Experian are recognised as one of the UK`s leading providers of online fraud prevention services in this modern, dynamic environment, allowing organisations to develop and manage online relationships. Experians real-time e-identity technology is currently in use in the retail sector and detects over 90% of fraudulent remote card transactions. (www.experianseries.com)
Following an agreement with Experian, a new web-based service, Experian ABTACHEACK will be exclusively available to all ABTA members. This includes 7,500 travel agents` outlets accross the UK. ABTACHECK will benefit travel agents and tour operators immensely. It will now be possible to positively confirm the identity of those individuals making on-line purchases. (www.abtacheck.com )
Ian Reynolds, Chief Executive of ABTA commented: “ABTACHECK is designed to significantly reduce the problem of credit card fraud over the phone and internet which, in some members` cases can be business threatening…..From now on, members will be able to use ABTACHECK to verify an individual`s identity before accepting payment by credit card. ABTACHECK works by matching the customer`s provided details with Experian`s extensive consumer database and provides traveler agents with an authenticication score reflecting the degree of confidence in the identity of the consumer.someThe authentication score is delivered in a matter of seconds, enabling travel agents to make an instant decision on whether to accept or decline a transaction before despatching tickets or selling holidays.”
Experian are delighted that ABTA has selected e-identity to protect its members against remote card transaction fraud.
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