The American Society of Travel Advisors (ASTA) published a new member-exclusive Industry Brief on Wednesday, examining the evolving fraud threats affecting travel advisors and the industry as a whole.
As attractive targets for increasingly sophisticated fraud schemes, travel advisors must be aware of these threats and implement strategies to protect their clients and business, according to ASTA.
The organization's brief explores common fraud schemes such as stolen payment information, client and supplier impersonation, credential theft, business email compromise and the exploitation of agency onboarding and verification processes.
The advancement of AI is only making these schemes more sophisticated, ASTA points out.
ASTA members can utilize the latest brief to understand the potential consequences for their agency, including chargebacks, debit memos, data exposure, damage to reputation and the staff time required to investigate and resolve incidents.
Additionally, this helpful resource provides practical steps agencies can take to reduce their exposure, from strengthening account security to staff training and developing an incident response plan.
"Fraud is becoming more sophisticated, more scalable and more difficult to detect, particularly as criminals use artificial intelligence to exploit trust and create a false sense of urgency," ASTA President and CEO Zane Kerby said in a statement.
"Travel advisors need strong systems, clear verification procedures and current information to protect their businesses and their clients. This Industry Brief gives our members practical steps they can take now while reinforcing the value of working with a trusted travel professional," he added.
Advisors can visit ASTA's Industry Resources page to learn more about the latest member-exclusive Industry Brief.
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