IATA to Fight Payment Fraud

The International Air Transport Association (IATA) has announced its plan to crack down on payment fraud against airlines and travel agents, which allegedly costs the industry an annual $858 million.

Partnering with Ypsilon Net, IATA now offers IATA Argus, a fraud detection program, to airlines and travel agents. The system can detect suspect transactions as early as the booking request stage, flag them or even cancel them where needed, and notify the agent or airline of suspicious activity.

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[Photo: Getty Images]