Beware: Fraudster Airline Agencies
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Legitimate online travel agencies are getting competition from the darkest corners of the Internet – the black market. Fraudster travel agencies are springing up all over the cybercriminal underground and offering unbeatable prices for worldwide airline tickets to other fraudsters. How are they able to do it? There are two main ways they accomplish this:
The most common way is to use stolen credit cards to purchase airline tickets. A recently released report1 showed that airlines lost nearly $1.4 billion in 2010 due to online payment fraud. As you can see in Figure 1, a criminal offering a fraudster- operated ticketing service offers to sell tickets for any kind of travel with a “99.99% assured success” rate and at only 20-30% of the face value of the ticket. (Of course, the criminal buyer pays the fraudulent ticket agency using a stolen card, as well).
The second way, while not nearly as common but growing in popularity, is to secure access to consumers’ loyalty and rewards program accounts and cash out available points in exchange for travel vouchers. RSA has witnessed multiple phishing attacks recently targeting airline customers with the goal of obtaining their login credentials in order to monetize their reward points.