Credit cards have been accepted by airlines for quite some time now and all airlines are pretty bad at veryfying the details before issuing the ticket. Obviously the problem is not too bad or else the complete industry would have done something about it globally. The biggest protection is that a person actually has to use the goods purchased in close contact with the vendor.

A colleague had his CC misused to purchase F tickets on AF last year. The ticket was cancelled and the charges reversed before the flight took place. How stupid would one be to take such a flight when there is a chance you might be arrested while checking in? On the other hand, once upon a time you could get cash refund for tickets purchased with a CC or use a refund amount to buy a new ticket.

BTW, there is no serious ID requirement in India to get airside. Airlines in india ask for picture ID for etickets, but its not really enforced big time.