At the Fraud Prevention Day on 14 November 2024 at DERTOUR in Frankfurt, Dr. Markus Heller presented the results of the Travel Compass 2024 on the topic ‘The challenges of financial fraud in the travel industry’. The relevance of fraud in tourism, fraud patterns, challenges in the prevention of payment fraud and fraud prevention measures were considered. An insight into current successes in fraud prevention and a future outlook were also given.
After the presentation, the results were discussed in more detail in a panel with Paris Hegenberger-Goerg from PayPal, Alexander Heil from DERTOUR and Patrick Coulomb from Ypsilon.net, and fraud patterns and solutions in the industry were discussed. Among other things, trends in current fraud patterns in stationary vs. online sales, cost-benefit analyses in fraud prevention, loyalty & compensation fraud and the role of machine learning in identifying suspicious cases and fraud patterns were discussed.
We would like to thank the panelists for the exciting discussion and the DRV for the interesting event on this important topic for the industry.
The Travel Compass is published annually by Dr. Fried & Partner and PayPal and, in addition to a current industry focus topic, examines demand and booking behaviour in the German holiday travel market. To do this, Travel Intelligence analyses based on real booking data from online and offline sales channels (data source: Travel Data + Analytics) as well as qualitative expert interviews are used for evaluation in context. In addition to this year’s focus on fraud cases and methods in the travel industry and the resulting challenges for fraud prevention, qualitative in-depth interviews were conducted with experts in the field of fraud prevention, and a survey of retailers was conducted in the DRV network.
In 2025, there will again be a Travel Compass on an exciting industry topic!