Security Problems Of The Hospitality Industry

1272 WordsMay 11, 20166 Pages
Security Problems in the Hospitality Industry: In the realm of credit card fraud, online gambling sites, payday lending outfits and multilevel marketing companies wear the label of ‘high-risk merchants’. However with an estimated 38 percent of all credit card fraud stemming directly from the hospitality industry, disproportionately high compared to other sectors of multilevel marketing, hotels have earned themselves the unwelcome ‘high-risk merchant’ tag. In the US for instance, in 2014, hotels generated an estimated $177 billion in annual revenue, but there are several risk factors involved along the hotel pipeline.: large numbers of rotating guests, reservations and credit card-based transactions, complex multichannel booking systems integrated with dozens of third-party tools and supplemented by paper-based documentation, frequent chargebacks, and heavy human interference from hotel personnel make up just a few of the factors that make hotels susceptible to fraud. The growing popularity of online travel has made it a prime target for cybercriminals. Travel domain websites like Hotwire, Kayak, Expedia, Airbnb, Kayak and Priceline make booking and buying easier than ever. Moreover, Travel and Hospitality data is rich and contains lot of customer personal, payment and card information. However, all this rich data is not well protected against phishing emails, fake booking websites, viruses and malwares that put the valuable customers personal and financial information at
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