Significance of Identity Verification in Preventing Travel Fraud
The traveling and touring industry has been constantly expanding globally since its advent. Although the COVID-19 pandemic significantly impacted the travel industry, it could not lessen the urge to travel from wayfarers who love to catch flights.
In today’s digitally evolving landscape, the travel industry is booming, and the number of plane travelers is expected to hit 8.2B in 2037. As technology improves in the travel industry, identity crime and travel fraud become more likely. All parts of traveling, like buying a plane ticket, getting a room, or going on a tour, require identity proof. Moreover, getting proof of a traveler’s identity is a paramount step in building trust. eIDV solution comes to help in this case.
Most Common Types of Travel Fraud
Criminal activity is growing rapidly in the travel industry. Some of the most common ways travel scams happen are:
Rise in Hotel Prices
It is common for scammers to cause trouble for online travel companies and sites. In this kind of travel fraud, the crook and the hotel work together. In reality, what happens is that the hotel raises its prices, and the hacker gets their room through an online travel agency using stolen payment information. However, eIDV solutions can help the travel industry prevent travel fraud by stopping hotels from taking reservations from people with fake IDs.
Stealing Payment Details
The theft of credit and debit card information is a growing form of scam in the travel industry. Hackers make different kinds of software to steal people’s credit card information. An imposter buys tickets or trip packages and then tries to get their money back on their debit or credit cards. Hackers use different methods to do bad things. Sometimes, they use stolen card information to book a trip and sell it to someone else for less money.
Last-Minute Purchasing
Some scams even take advantage of last-minute bookings by buying tickets just 24 to 48 hours before a flight leaves with stolen credit card information. These are small purchases so that travel companies won’t notice the fake purchase. Since the travelers have already checked in for their trip, even a fake ticket that has been approved cannot be canceled, leading to travel fraud.
Fake Online Travel Company Fraud
Travelers are sold fake airline tickets, hotel bookings of non-existent hotels, and false holiday packages in this type of travel fraud. Fraudsters replicate popular websites and applications and become reachable on public platforms. These fake platforms that apparently look and feel good are almost similar to the original traveling companies. Consequently, customers often get confused and use fake websites to make their bookings.
eIDV for the Travel Industry
Due to the growing number of scams in the travel industry, identity verification is now a must in this digital age to find and stop identity theft and other travel fraud. Verifying customers’ names to make sure they are who they say they are is essential for building trust between customers and travel companies. Moreover, the travel industry can ensure that customers and their belongings are safe during a trip by using identity verification services. The identity verification method keeps hackers away, helps the travel industry meet privacy laws, and avoids getting fined heavily.
Here are the primary reasons why identity verification is essential for the travel industry:
Less Paper-Work Requirement
Strong identity verification solutions use biometric technology, so the travel industry doesn’t have to ask clients for extra papers to verify their identities. So, the client just has to give their unique ID numbers, and they’re good to go.
Makes Platform Secure
Whether selling plane tickets online or running a travel business from home, it is important to ensure that only genuine people use the website. eIDV plays a significant part in this by reducing the risk of scams and making travel companies even safer.
Better Customer Experience
A robust identity verification system like e-IDV can help travel companies improve their customers’ online experience. Customers will be fearless in using your platform if they know that it has the most up-to-date security checks. Moreover, a satisfactory customer experience boosts the business’s image in the market and helps the domain make more money.
Wrapping Up
Digital identity verification solutions are essential to prevent hackers from getting past security measures. The e-IDV option provided by any high-end KYC services provider is ideal for preventing customers from travel scams. To this day, eID solution providers are helping effectively and efficiently in identity verification to reduce the possibility of travel fraud and help the travel industry conform to international standards.
