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Airlines losing $1.4 a year to online fraud, study finds

The world's airlines are collectively losing around $1.4 billion a year to online fraud, a new study has revealed.

Once again highlighting the extent of the problem, research carried out by the US-based CyberSource Corporation found that travel firms are particularly susceptible to computer crime as they conduct a significant proportion of their business over the internet.

Indeed, the research found that one in every three dollars earned by a typical carrier comes from online sales.

Notably, the study also pointed to the potential benefits of security software, with business-class airlines, which generally invest more money into protecting their customers' data, less likely to fall victim to online attacks that low-cost carriers, which often extend their 'no-frills' approach to antivirus software.

Announcing the findings, CyberSource head of UK client and technical services Dr Akif Khan said: "These findings highlight the need for airlines to adopt a more automated, holistic approach to fraud management - from initial screening through booking review and disposition."

This follows on from news that Sir Tim Berners-Lee, the man credited with inventing the internet, has himself fallen victim to online fraud in the past.

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