We frequently hear from operators and brokers about attempted fraud and concerns over lost funds and reputational damage. For instance, Odyssey Airways was once the subject of attempted fraud for nearly $80,000, which resulted in the company closing its bank account to avoid future fraud.
They are not alone in facing such challenges. The FBI’s Internet Crime Report 2023 shows a significant rise in payment fraud, with losses exceeding $10 billion in 2022, much of it related to payments. In our industry, dealing with new, often international partners is common, making it hard to establish trust and increasing financial risk. This highlights the need for solid payment security measures to protect funds and maintain trust in transactions.
Strategies to prevent payment fraud
The best response to this worrying trend is to look at options to increase your security measures and protect your business and your customers’ data to avoid some of the most common risks with air charter payments and customer data. That’s why we have implemented solutions and practices over the past few years to help our members secure their operations and ensure data safety.
We’ve added these features to help keep customer data safe, ensuring that only authorized persons can access your data:
A thorough verification process
Every new member company joining Avinode Group completes our verification process. This ensures that the company meets the highest legal and regulatory standards, providing a solid foundation of trust and security.
Secure Login for trip authentication
A streamlined process that uses your Avinode login for booking trips. This ensures that only authorized users can authenticate and book trips, enhancing overall security.
Passkey identification for instant payments
This multi-factor identification process significantly reduces the risk of fraudsters gaining unauthorized access, making payments more secure.
Keep a customer’s card information on file
Safely store customers’ credit card details on our platform to avoid the need for double-entry of personal information.
Stay informed and proactive
To reduce the risk of payment fraud is to take proactive measures by multi-factor authentication, conducting regular security audits, training employees, and using fraud detection tools.
By recognizing the importance of payment security and taking these proactive steps, we aim to create a secure environment for air charter transactions, fostering trust and long-term success.
Connect with us
If you are already a member, contact your account manager or our support, and we will help you get started.
If you are new to our solutions and want to get started, fill out the form here. We will contact you to guide you through the steps to start handling payments compliantly.
We are always around to help you!