Fri, Jan 08, 2016
Estimated To Cost The Industry $858 Million Annually
The International Air Transport Association (IATA) announced it is expanding its activities to prevent payment fraud in the air travel industry. Payment fraud costs the industry an estimated $858 million annually, approximately $639 million of which is borne by airlines and the remainder by other participants in the travel value chain, including travel agents. IATA is cooperating with Ypsilon Net AG to make IATA Argus Fraud Manager (IATA Argus) available to airlines and travel agents.
While some airlines already use a range of systems to reduce fraud activity in their direct sales, IATA Argus offers a unique, fully-integrated and automated payment fraud detection and management solution for both travel agents and airlines.
“IATA is committed to helping the industry fight fraud. Our partnership with Ypsilon Net AG brings a modern fraud prevention solution that meets the needs of both airlines and travel agents to reduce fraud and increase the confidence in generating new sales via all available distribution channels,” said Aleks Popovich, IATA’s Senior Vice President Financial and Distribution Services.
By accessing information available in global distribution systems, IATA Argus is able to detect suspect transactions from as early as the booking request stage, and flag them or even cancel them as appropriate. It can notify the agent or airline of a suspicious booking, and automatically take action to void, suspend or cancel a ticket.
“You cannot segregate fraud occurring on airline direct channels from fraud generated through travel agency or online travel agency channels. IATA Argus combines ease of implementation and cost efficiency in a system that protects all channels effectively and provides full automation,” said Hans-Joachim Klenz, CEO of Ypsilon Net AG.
IATA Argus can also integrate systems including, but not limited to, IATA Perseuss and Ethoca and uses the provided information to enhance fraud scoring.
(Source: IATA news release)
More News
Also: USAF Pilots, Atlanta Tower Evac, Archer Spotlight Dissipates, Hop-A-Jet Sues A social-media call for people to point lasers at aircraft flying over Portland’s ICE facil>[...]
Also: Kodiak 100 Joins USFS, Innovative Solutions & Support Renamed, Gulfstream Selects Honeywell, Special Olympics Airlift The Phantom 3500 mockup made an appearance where the>[...]
"On the way back to the United States from NATO’s Defense Ministers meeting, Secretary of War Hegseth’s plane made an unscheduled landing in the United Kingdom due to a>[...]
Pilot Was Transporting His Family Back To Their Home In Boise And He Planned To Fly Back To SHR That Afternoon On September 1, 2025 about 1612 mountain daylight time, a Piper PA-28>[...]
How To Get A Story On Aero-TV News/Feature Programming How do I submit a story idea or lead to Aero-TV? If you would like to submit a story idea or lead, please contact Jim Campbel>[...]
Airborne 10.14.25: Laser Threat, VeriJet BK, Duffy Threatens Problem Controllers
See All