It is no secret in 2023 that cybersecurity has become a huge concern for many consumers and businesses around the world. In travel especially, with some of the financial risks that come alongside it, the threat of potential cybersecurity attacks has become a matter of even greater concern over the past couple of years and the level of concern has risen by 4% year-on-year, according to some new research.
GlobalData published new research today, on Wednesday the 12th of April, surrounding the heightening level of concern towards cybersecurity that is spreading throughout the travel and tourism industry. The research collates data from 2022 and has displayed the rise in concern in different sectors. According to the data, the concern within airlines has risen by 6%, within travel services it has risen by 4%, and within lodgings businesses, it has risen by 1%.
Misa Singh, the business fundamentals analyst at GlobalData, businesses across all different industries need to be constantly upgrading and updating their cybersecurity in order to protect consumers from attacks. As those that threaten cybersecurity are constantly updating their attacks to fit with the current progress of software and trends, it is vital for businesses to be aware of the potential threats and stay ahead with their cybersecurity.
“A severe data security incident can lead to operational disturbances and cause significant financial damage to the business,” Misa Singh said. Though it is alarming, staying up-to-date on cybersecurity strategies can significantly reduce the chances of an attack that will cause this much disruption, and potentially all but eliminate the chance of a smaller attack being a concern.
According to the research, there is a multitude of different ways that businesses in the travel sector are implementing better cybersecurity. From airlines and airports specifically this includes biometric boarding and greater information security committees and focuses within the business.
“Failing to adopt appropriate technology leaves companies vulnerable to cyber threats that can have a detrimental impact on their operations,” Singh said. “Investing in robust cybersecurity solutions, educating employees about cybersecurity risks, and staying up to date on cybersecurity threats can help reduce the likelihood of an attack.”
The variety of precautions and concerns going through the travel industry at present come following the Chartered Trading Standards Institute (CTSI) warning to travel consumers concerning offers they might get that seem ‘too good to be true’. The advice going out to many of these consumers is that if it looks too good to be true, it probably is.
According to this warning, the fraudsters targeting travel consumers at current are doing so through more and more ‘sophisticated’ methods such as creating fake adverts, emails, and phone calls all to convince the consumers that their scam is legitimate.
So, if you’d like to learn more about how your consumers’ monies are protected with Protected Trust Services (PTS) and how we support excellent travel businesses, check out our pages. Or you can get in touch with the lovely PTS team by calling 0207 190 9988 or emailing us at email@example.com.