From Risk To Resilience: Building a Fraud-Proof Loyalty Program
Is your loyalty program at risk for fraud? Learn how you can build a fraud-proof program.
Loyalty program fraud has become a growing concern, with many customers reporting hacked accounts resulting in lost points or charged airline-related credit cards. Scammers convert stolen points into cash, airline tickets, or products and sell them on the dark web. Big data breaches steal millions of usernames and from loyalty programs, allowing hackers to exploit and sell this information to lower-level fraudsters. While loyalty program fraud is not new, it has become more widespread and sophisticated.
This article outlines the types of loyalty/reward programs that are most susceptible to fraud, the cost of loyalty program fraud, and how you can build a fraud-proof loyalty program.
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