So what are some of the big frauds and how can you use technology to protect your travel agents, your travel agency, and ultimately your clients from these kinds of frauds?
2. BLOG.TTS.COM
What are some of the big frauds and
how can you use technology to protect
your travel agents, your travel agency,
and ultimately your clients from them?
3. IMAGINARY HOTELS - FRAUD
BLOG.TTS.COM
• The fraudster will create an imaginary hotel
either using a simple online website builder
or perhaps a slightly more elaborate one.
• But no matter how the fake hotel is created
or operated, the fact is it is still not real. The
fraudsters will then use stolen credit card
numbers and book through online travel
agencies.
4. IMAGINARY HOTELS - FRAUD
BLOG.TTS.COM
• They receive chargebacks but by the time a travel
agency realizes this imaginary hotel has already
closed for business, they have left with the money
leaving the travel agent high and dry.
• Easy fraud to exploit as OTAs oftentimes handle
these kinds of payments automatically meaning that
if a fraudster had a sufficient number of stolen
credit and debit cards, they could potentially hit a
travel agency for many thousands of dollars in false
booking fees.
5. IMAGINARY HOTELS - SOLUTION
BLOG.TTS.COM
• Travel agencies need to double-check their
suppliers before making payments.
• Doing things like checking for a business
license, checking online Google Business
reviews, or even doing a simple Google Street
View of the supposed hotel location to make
sure there is a hotel there and that the hotel
matches up with the information given can go
a long way towards protecting assets.
6. BLOG.TTS.COM
HOTEL PRICE SPIKE - FRAUD
• The hotel will raise all of its room pricing, then the
fraudster will book hotel rooms using stolen credit
cards through an OTA making the travel agency
now responsible for paying the chargebacks of the
higher pricing.
• If a travel agency demand client information to
find out how the hotel managed to book imaginary
people, the hotel conveniently happens to have all
the false documentation it needs and it can avoid
being labeled as fraudulent although they are in
cahoots with the thieves.
7. BLOG.TTS.COM
HOTEL PRICE SPIKE - SOLUTION
• This again is another place where it’s very
important to check your suppliers and also note
the patterns between price increases and
fraudster activity which is a dead giveaway for
this kind of scam.
8. eNett and TTS Consolidator
BLOG.TTS.COM
• Fortunately, there are things that you can do
to protect your travel agency from fraud: by using
advanced technologies like eNett or TTS
Consolidator. These solutions dovetail and work
together seamlessly.
9. eNett and TTS Consolidator
BLOG.TTS.COM
• eNett is an online payment method designed to
help facilitate payments within the travel industry
by using virtual account numbers to turn cash
payments into a virtual digital account number via
MasterCard which can then be used and accepted
as payment anywhere MasterCard is.
10. eNett and TTS Consolidator
BLOG.TTS.COM
• This means that true credit card numbers are
never being used and only randomly-generated
artificial accounts are. This helps cut back on
credit card fraud and using the virtual account
numbers backed by MasterCard helps ensure a
greater level of protection for clients and the
travel industry.
11. eNett and TTS Consolidator
BLOG.TTS.COM
• eNett then fits seamlessly with TTS Consolidator to
help facilitate online booking in a way that helps
protect travel agents and the travel agency from
fraud while simultaneously ensuring greater
efficiency and safer transactions.
12. BLOG.TTS.COM
The battle between fraudster and cybersecurity is an
eternal struggle but with the advancement of travel tech
and advanced fraud protection technologies
like eNett and TTS Consolidator, travel agents and their
clients can have peace knowing that their financial
information is secure.
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