Posted Under : Technology
- Posted by :Thomas
- Date : Nov 03, 2015
As the online channel becomes increasingly dominant in our business and personal lives, the risk of account takeover or identity theft are ever greater. This creates a significant burden for companies: today, cybercrime costs the victim company an average of 2.6 million dollars per incident.
Some of the Amadeus‘s white paper’s key findings include:
1. Companies can use security initiatives to improve their customers’ experience and drive greater sales on their websites.
2. There is a significant opportunity for airlines to unlock hidden revenues by reducing the number of valid transactions which are blocked by ineffective fraud management.
3. Storing sensitive data as tokens allows travel companies to eliminate sensitive data altogether from their organisations which greatly reduces the burden of meeting regulatory obligations.
4. Automating fraud management controls can not only reduce the level of fraud, which a company is exposed to, but also reduce the hidden cost of fraud.