Security & Fraud

The Rising Tide Of Loyalty Fraud — And How To Stop It

Would one lock a Ducati to a lamppost with a loop of dental floss? Well, that’s about the equivalent of what’s protecting an estimated $250B in global loyalty rewards — most accounts are protected by just a four-digit PIN, says Peter R. Maeder, co-founder of the Loyalty Fraud Prevention Association. In the latest Digital Fraud Tracker, Maeder discusses the 300 percent rise in fraud targeting loyalty programs, and why PINs for protection are toothless.

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