LOYALTY points fraud is being treated as a new funding stream for cybercrime, with criminals targeting points from hotel, airline, supermarket and other consumer loyalty schemes. Malwarebytes reports that points can be worth roughly a cent per point, with premium programmes worth more; for example, 100,000 airline miles can translate to about US$1,000.
The theft of these points enables fraud that is sometimes less obvious than bank account compromise, because many people overlook their loyalty accounts in the same way they do their regular funds.
Evidence cited includes real-world incidents: a Chicago teacher discovered 240,000 airline points had been stolen after receiving a basic usage confirmation email, and another individual had miles pilfered and used to book car rentals in New York and Memphis. The podcast interview with Kim Sutherland, Global Director of Fraud and Identity at LexisNexis Risk Solutions, explores how these thefts occur, what companies are doing to protect customers, and what consumers can do to stay secure.
The article emphasises that while many of us may not know we’re collecting loyalty points, criminals do, and the points can be exploited to finance travel or other purchases. The piece invites listeners to hear the full discussion in Lock and Code S07E18.