There are many ways to help reduce the risk of fraud within a company and here are just 4 that you can practice in your business to decrease the chance that you or any of your customers get defrauded.

1. Ensure that big-ticket bookings are flagged and reviewed by a fraud team: big ticket items are the most likely to be abused by fraudsters as they want to turn their stolen money into cash as quickly as possible so they will often opt for larger sums of money in order to reap the highest benefits.

2. Take note of the characteristics of big-ticket bookings: to help keep track of potential frauds, make sure that all big ticket sales have some of the customers details listed on a database, details such as name address and phone number, cardholder name address and phone number, email addresses, IP address of where the ticket was purchased and ISP details, and finally transaction times and amounts.

3. Pay extra attention to high risk bookings: such as if the passenger name isn’t the same as the name of the cardholder, if it is a first class or business class ticket, if it is an electronic ticket or if it wasn’t delivered to the correct billing address and finally, if the date of travel is less than 6 days after the date of purchase (holidays are usually planned a long time in advance, particularly where large costs are incurred).

4. Check the address on the card: using a software tool that allows you to keep track of the important details in each transaction will make it easier to see whether the payment is legitimate or not. When checking the address, for example, the Payment Service Provider will show whether the address entered is valid. However, it will not control that the address is linked to the credit card entered as this information is only available to the bank, not to the service provider. By using a CRM or travel ticketing system you can compare the address given in the payment against that stored in your database to provide a better understanding of the legitimacy of the credit card payment.