Every business knows the harm done by credit card fraud, yet few are fully aware of how damaging loyalty point fraud can be or how prevalent such attacks are today.
As loyalty point balances grew during the pandemic as consumers bought more online, brands needed new ways to earn repeated custom in a saturated eCommerce market. Many customers have accumulated significant amounts of loyalty points from cancelled holidays and lockdown purchases to use post Covid. This makes loyalty point fraud an attractive prospect for cybercriminals who resell such points illegally; the attacks are cheap and easy, the risk is low, and the rewards are high.
Now is the time for retailers and the travel industry to get ahead of this alarming trend, before criminals attack and create yet more financial and reputational unrest for businesses after a difficult year.
This whitepaper explores how loyalty point fraud is growing, how attacks take place and how businesses can keep themselves and their customers protected.
Here’s what you’ll learn:
• How loyalty point fraud works through examination of the BLADE framework
• How the attack landscape is growing in sophistication and surface area
• How sophisticated bot management keeps retailers ahead of loyalty point fraud