As part of this week’s Wednesday Wisdom the team took a look at loyalty fraud and how recent technological developments are impacting the loyalty landscape. Increasing online activity coupled with a growing number of loyalty programmes of greater complexity and sophisticated methods of attack provide an attractive and lucrative opportunity for fraudsters.

The team discussed how one of the many challenges facing the industry is the lack of a universal definition of what 'loyalty fraud' means due to the vast range in how loyalty programmes are designed and reward customers. This has ultimately led to a legal grey area that has been exploited by criminals to avoid prosecution.

With fraudulent attacks on loyalty programmes on the rise and the methods of attack becoming more and more sophisticated, the team reviewed the different forms loyalty fraud can take, the various consequences a fraudulent incident can have for a business and what the future of loyalty fraud is likely to look like.

Through regularly reviewing the latest research, our programmes and fraudulent behaviour on other loyalty programmes, Stream aim to ensure that we are continually improving our processes, keeping our programmes secure and staying ahead of potential future threats.

About the Author

Alice Kitchener

Alice Kitchener

Alice loves working with her clients to maximise the customer experience on their loyalty programmes. She can often be found crunching data to provide analysis and insights so you can always expect a productive quarterly review.

Related

Creating Long Lasting Engagement

Our five top tips on how to create better engagement that lasts throughout the lifetime of your loya...

Read More

Monday Motivation

Opportunities don't happen, you create them.

Read More
Product Tutorial - Creating Campaigns That Grow Emotional Connections 

Product Tutorial - Creating Campaigns That Grow Emotional Connections 

In this product tutorial we are taking the opportunity to tell you a little more about LoyaltyStream...

Read More
Introduction to Behavioural Economics - Wednesday Wisdom

Introduction to Behavioural Economics - Wednesday Wisdom

Jess hosted our Wednesday Wisdom on Wednesday 29th September titled 'Introduction to Behavioural...

Read More
Innovations in Loyalty: Trends to Watch in 2024 

Innovations in Loyalty: Trends to Watch in 2024 

In this blog we embark on a journey to explore the cutting-edge innovations and trends that are set ...

Read More
Why I love working for Stream

Why I love working for Stream

Alice's latest article reflects on the last 18 months and how the pandemic has made her think ab...

Read More

LoyaltyStream Key Features

  • 21 loyalty campaign types to suit every business
  • Options to deploy gamification campaigns such as Spin-To-Win and Prize Draws as well as Badges
  • Ability to track and reward all behaviours from transactions to actions
  • In-depth visual analytics and insights on Campaigns, Members, actions and transactions
  • Customisable CRM and segmentation options to suit your Member profile
  • Scalable modular SaaS platform that can grow with your business

 

Contact Us:

+44 (0)1844 208180

contact@streamloyalty.com

Carter House, Chilton Business Centre, Chilton, Buckinghamshire, HP18 9LS

Connect With Us:

Learn more about loyalty


Stream Loyalty on LinkedIn Stream Loyalty on Facebook Stream Loyalty on Twitter


Privacy Policy

Terms of Use

Cookie Policy


We offset our carbon footprint via Ecologi
Empty
Click + to add content