Our daughter works in the accounting department's revenue division for one of the major airlines. She has to deal daily with credit card fraud as it pertains to that business where she interfaces between the company and the issuing banks.
In conversation this morning she told me how the two major credit card fraud schemes are worked on the airlines and how much it costs the company as in the end, often the company has to take the financial hit.
Last month credit card fraud cost her employer 1.8 Million dollars. That was just last month.
I found it staggering!