28 Jan '11, 2pm

Fraudulent credit card transactions to rise in Asia Pacific

Fraudulent credit card transactions to rise in Asia Pacific

SINGAPORE : Fraudulent credit card transactions in the Asia Pacific now amount to more than US$350 million per year. Credit card scamsters are giving airlines in Asia a hard time. With the number of credit cards in the region expected to reach six per person by 2014, up from the current one, fraud cases will likely soar. Industry watchers say low-cost carriers (LCCs) are particularly vulnerable. Carl Clump, chief executive of Retail Decisions, said: "What we found is that 47 per cent of them didn't understand the true cost of e-commerce fraud. And what we have established is that it's probably about 12 dollars per ticket through the e-commerce channel. "Now the margin on all of their tickets through travel agents, direct sales, mail order, e-commerce, is only 12 dollars anyway, so there's a huge leakage of revenue and profit through online fraud for the low cost carriers."...

Full article: http://www.channelnewsasia.com/stories/marketnews/view/11...

Tweets

Credit card fraud in region expected to rise

todayonline.com 30 Jan '11, 10pm

SINGAPORE - Fraudulent credit card transactions in the Asia-Pacific have crept up to hit more than US$350 million ($450 mi...

Things are heating up again in Bangkok. Stay updated through our Thai correspondent, Nirmal Ghosh, at

Things are heating up again in Bangkok. Stay up...

straitstimes.com 28 Jan '11, 12am

A supporter of the People's Alliance for Democracy, also known as the Yellow Shirts, poses for a photograph near Governmen...

Asia issues Egypt travel warning: SYDNEY: Austr...

channelnewsasia.com 30 Jan '11, 12pm

SYDNEY: Australia and China told their citizens not to travel to Egypt Sunday, as Tokyo appealed for help for 500 Japanese...

Oil down in Asia on talk of OPEC crude rise

channelnewsasia.com 25 Jan '11, 3am

SINGAPORE: Oil prices fell in Asian trade Tuesday in the wake of OPEC powerhouse Saudi Arabia saying the cartel may boost ...

Indonesians piling up credit card debt: By Wahyudi Soeriaatmadja, Indonesia Correspondent JAKARTA - AN AGGRESSIV...

Indonesians piling up credit card debt: By Wahy...

straitstimes.com 11 Feb '11, 6am

JAKARTA - AN AGGRESSIVE drive by Indonesia's banks has succeeded in putting more plastic in their customers' hands, but it...

Germany's DVB expects rise in revenue from Asia...

todayonline.com 06 Feb '11, 10pm

SINGAPORE - With the centre of global trade and commerce heading East, Germany's DVB Bank - a specialised lender to the tr...

Asia bagus:

todayonline.com 21 Jan '11, 10pm

SHORT of doomsday throwing our plans off course, travel is high on almost everyone's agenda this year. The Singapore dolla...

Asia real estate investments to rise further in...

channelnewsasia.com 19 Jan '11, 10am

SINGAPORE: Commercial real estate investment volumes in the Asia-Pacific region reached record levels in 2010 of US$145 bi...