Sale of Points on Dark Web - Press Release

PRESS RELEASE - 16th October 2019

The Loyalty Fraud Prevention Association and Mega Event call on the Airline & Travel Industry to fight against the sale of travel on the Dark Web

Fraudsters hack or steal credit card and loyalty program accounts. These stolen accounts are often sold on the Dark Web, frequently for travel, thereby fueling the business of international crime syndicates. The 10th annual Mega Event and The Loyalty Fraud Prevention Conference, being held jointly in St. Petersburg Beach, Florida, will offer a workshop and live demo on Monday, October 28th, 2019 on how travel is being sold on the Dark Web. The demo will be conducted by Sift, a leading provider of fraud prevention solutions. The workshop will also share best practices and solutions to airline and travel brands on how to stop this.

Michael Smith, Executive Chairman of the Mega Event, says “We teamed with the Loyalty Fraud Prevention Association (LFPA) because the sale of travel on the Dark Web is a growing concern not just to fraud and security executives, but also to travel industry marketeers. Illegal Dark Web shops often look like those of actual brands such as hotels, airlines or even credit card companies. Many of these Dark Web shops even have 24-hour customer service and refund policies. This is bad for a company’s brand reputation, on top of costing travel brands Billions annually.”

Christopher Staab, Co-Founder of the LFPA adds: “Travel brands also have a moral responsibility to stop fraud. Travel purchased with stolen credit cards and loyalty accounts fuels everything from the hotel stays of prostitution rings to the travel of human traffickers. So, in addition to boosting a company’s bottom-line, stopping fraud helps to stop very illicit activities.” 


For more information, about stopping the sale of travel on the Dark Web Web or about joining the workshop on October 28th in Tampa, visit the events page of the Loyalty Fraud Prevention Association at: www.LoyaltyFraudAssociation.org  

About the Loyalty Fraud Prevention Association (LFPA)
The Loyalty Fraud Prevention Association was founded in 2016. Its mission is to support the loyalty industry in its fight to reduce and eliminate fraud. For more information, visit www.LoyaltyFraudAssociation.org or find us on Linkedin.

About the Mega Event
The Mega Event, organized by Ai Events, is in its 10th year. It consists of three conference tracks for airlines & travel companies on: Loyalty Marketing, Ancillary Revenue and Co-Branded Credit Cards. For more information about Mega Event, visit:  www.MegaEvent19.com

LFPA Press Contact
Silvia Nijhoff
Marketing, Loyalty Fraud Prevention Association
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+1 786 301-6950

Loyalty Fraud Survey Results 2017

2017 Loyalty Fraud Survey Results

In partnership with CyberSource, over 100 organisations completed a confidential survey in to the issues and challenges of Loyalty Fraud.

You can request to read the report by clicking here.

First published, 17th of May 2017

 

Press Release | Loyalty Account Compromise

PRESS RELEASE: Your credit card or loyalty account was compromised, Facebook might be the reason says newly formed Loyalty Fraud Prevention Association

Compromised credit card accounts, and now more than ever compromised loyalty program accounts, are an ever-growing problem for consumers. Fraudsters hack, breach or otherwise steal accounts and then often sell them online. This may be done in plain site via Facebook. The Loyalty Fraud Prevention Association (LFPA) calls on Facebook to police this issue to protect consumers. This problem, among others related to loyalty fraud, will be discussed at the LFPA Conference in Atlanta on May 24th and 25th.

Peter Maeder, Secretary of the Loyalty Fraud Prevention Association says: 

“Any quick search for pages in Facebook for stolen credit cards will yield many pages and users selling stolen account data. These fraudsters are now finding loyalty program accounts to be an easier target. Our members, which include some of the largest travel companies in the world, have reported this issue to Facebook, but have had little or no success removing the pages.” 

The result is that loyalty programs and their members are becoming the victims of fraud costing tens of millions of Dollars annually. To address the growing phenomenon, the Loyalty Fraud Prevention Association (LFPA) will be gathering executives from loyalty programs from throughout North America and the world in Atlanta on May 24th and 25th of May, 2017. In addition to acting as an industry to stop Facebook and other Social Media sites from spurring fraud, issues to be discussed in this conference will include: Employee-driven loyalty frauds; Bot attacks on loyalty programs; Stopping fraud on the Dark Web; and the latest IT-solutions that combat loyalty fraud.

More information about the conference can be found at www.LoyaltyFraudAssociation.org

About the Loyalty Fraud Prevention Association (LFPA):
The Loyalty Fraud Prevention Association was founded in 2016. Its mission is to support the loyalty industry in its fight to reduce and eliminate fraud. Members consist of airlines, hotels, IT providers, financial services companies and others who operate loyalty programs from around the world.

For more information, visit www.LoyaltyFraudAssociation.org or find us on Linkedin.

FPA / Press
Christopher Staab
Co-Founder, Loyalty Fraud Prevention Association
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+1 305 542 9901