Caribbean Airlines reveals scale of credit card fraud
Saturday, 15 Mar, 2017
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Caribbean Airlines says it is losing about $40,000 every month due to fraudulent credit card transactions.
Most of these it says are for US bound flights out of Trinidad, Kingston and Guyana.
Another fraud hotspot has been discovered ‘out of Caracas,’ said CAL senior manager, financial and revenue accounting, Adrian Agarrat during questions at a parliamentary Joint Select Committee.
Agarrat said the airline is working with a new provider to implement new protocols to ‘prevent the frequency’ and is ‘working every day to mitigate the impact’ of card fraud.
"It is a continual issue, criminal activity against the airline where we have criminals using other people’s credit card information to make bookings through our website."
The new provider will adopt a more ‘integrated approach’ in tackling card fraud, he added.
Despite this, CAL vice chairman Michael Quamina told the committee the airline was on track to return to profit ‘within 12 to 24 months.’
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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