In the April 2023 fraud awareness webinar, Cornelius Hattingh, Doug Nass and Ariana Levinson from ARC’s revenue integrity team presented updates about travel industry fraud and scams emphasizing how to identify and protect your business from phishing emails.
Watch the full video below or use the links to skip ahead to specific parts of their discussion.
4:32 Data from Embroker, Accenture, and other resources reveal that phishing schemes have increased over the last several years. Cornelius explains the charts showing the estimated number of cyber attacks and the cost of fraud to small and medium-sized businesses.
8:20 ARC's revenue integrity team identified a significant spike in fraudulent transactions. Cornelius presents a series of charts showcasing total fraudulent transactions, voids and refunds. He discusses fraud alerts manually generated year to date from 2021 through 2023 and forms of payment savings to agents who acted on an alert. He stressed the importance of agencies safeguarding their businesses at the point of sale, as ARC settlement is the third step after the transaction passes through the agency and GDS. Although ARC can provide alerts and advice, individual businesses are responsible for their own security. The sections below provide more details on how agencies are at risk and the steps you can take to mitigate the risk.
14:22 Ariana explains what cyber criminals want and how they use phishing. She details how they execute social engineering attacks via email, websites and other seemingly legitimate customer interactions. This section teaches how cyber criminals trick users into providing personal information and downloading files that infect their computers and other devices with malware and viruses.
18:28 Cornelius, Doug and Ariana highlight the risk posed by fraudsters to the travel industry, emphasizing that criminals do not discriminate based on the industry or the individuals to be exploited for financial gain.
19:49 The presenters address a question about common unauthorized ticketing schemes and diverse fraud practices that occur over the weekend and overnight. They also provide suggestions on what companies can do to prevent being a target.
21:40 The presenters discuss voiding unauthorized tickets and highlight the race between fraudsters attempting to issue tickets for immediate departures and the GDS identifying the intrusion and voiding the ticket before it is issued.
23:35 Ariana reviews the five types of phishing: email, smishing, vishing, spear phishing and whaling.
27:18 The team talks through several real-life examples of phishing emails and warning signs to help you identify, avoid and mitigate your risks.
41:42 Ariana details six ways to avoid falling prey to phishing emails and mitigate risks, such as implementing email filtering tools, utilizing secondary verification and setting up reporting systems.
49:15 The presenters address five security tips to prevent malware from being installed on your machine(s), including avoiding unsecured Wi-Fi, ignoring popups, and keeping up with legitimate security updates.
53:38 Cornelius reviews U.S. government fraud resources, cyber security resources for small businesses and contact information to report phishing attacks.