Loyalty fraud is a real and growing threat, and it’s only getting worse. Airlines, financial services firms and retailers are falling victim to cyber-thieves, who, in the face of highly secured financial systems, are moving on to points and miles programs that are typically more exposed and at greater risk.
As a loyalty program manager, you’re well aware of how attractive your program looks to hackers. With nearly $50 billion worth of rewards value sitting out there in the U.S. alone, ignoring the threat to loyalty theft could prove to be an expensive mistake.
But there’s good news. Shoring up your loyalty program against potential hackers does not have to be an expensive undertaking. For companies not ready to invest in program-specific security products – such as Connexions’ Rewards Shield – there are other steps you can take today that won’t cost you anything at all, other than the time it takes to implement and administer them. And they can be employed with the teams and assets you already have in place.
Here’s a checklist that outlines four short-term – and free – fixes that you can implement today as you build your long-term program for the future. Download it here, and you will:
- Gain a better understanding of how leveraging customer data can improve your rewards program’s security.
- Understand why rewards program security isn’t only the responsibility of your IT department. The checklist outlines additional key departments that must work with IT to create a companywide blockade against the threat of fraud.
- Avoid insulting your good customers by accidentally identifying them as potential criminals. The average American household belongs to 22 loyalty programs and is active in about 10 of them. People take loyalty programs seriously, and the last thing you want to do is turn off happy customers.
- Build a communications plan to engage customers to take control of their points or miles and protect the value from the Internet’s crime rings.
Take action now and download our free fraud prevention tool.