Payment fraud has long been a particular challenge for the airline travel industry. In fact, according to RSA Security and Juniper Research, airlines are the vertical most affected by online fraud, accounting for 46% of fraudulent transactions.
With travel ramping up following the COVID-19 pandemic, this period is bound to be especially fraught for airline industry security leaders. Airlines are in a weakened state, facing staffing shortages and other operational strain. During the pandemic, the airline industry experienced a “brain drain” from which it has not recovered. The industry also faces an uphill battle to win new customers and gain back the goodwill and loyalty it has lost due to cancellations and scheduling chaos.