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

Behavioural Economics and the Loyalty Market

Behavioural Economics and the Loyalty Market

Behavioural economics is the study of human behaviour to explain how/why consumers are motivated to ...

Read More
How to Brief a Design Team When Launching Your New Loyalty Programme 

How to Brief a Design Team When Launching Your New Loyalty Programme 

A well-designed loyalty programme can boost customer retention, enhance brand loyalty, and drive rev...

Read More
The Power of Customer Loyalty in Business: A Comprehensive Guide to Long-Term Success

The Power of Customer Loyalty in Business: A Comprehensive Guide to Long-Term Success

In the world of business, customer loyalty is not just a buzzword; it's a strategic imperative. ...

Read More
The Key to Launching a Successful Loyalty Programme 

The Key to Launching a Successful Loyalty Programme 

This infographic provides a step-by-step guide to help you create a loyalty programme that not only ...

Read More
Rewarding Results: The Metrics that Matter in Evaluating Loyalty Programme Performance 

Rewarding Results: The Metrics that Matter in Evaluating Loyalty Programme Performance 

Understanding which metrics accurately measure customer engagement is crucial to the effectiveness o...

Read More
The Future of Loyalty: Predictions for the Next Decade

The Future of Loyalty: Predictions for the Next Decade

Loyalty programmes have come a long way since their inception. From simple stamp cards to the sophis...

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