The most common travel scams in 9 global cities [CNBC]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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Source: CNBC
28% in the winter peak season in 2024, according to a report from the Mastercard Economics Institute. Many travel-related fraud complaints involve travel agencies and tour companies, it said. But common scams vary by city, with taxi and car rental problems comprising the majority of reported cases in cities like Bangkok, Thailand and Jakarta, Indonesia, the report showed. The travel industry is one of the sectors most susceptible to fraud, with scams rising 18% during the summer peak season and 28% in the winter peak season in 2024, according to a new report. The report, published last Tuesday by the Mastercard Economics Institute, showed that fraud related to travel agency and tour company bookings is more than four times higher than the fraud average of other industries. “Once paid, the tour may either never occur or be drastically different from what was promised,” it said. However, scam risks vary significantly from city to city, said David Mann, chief economist at the
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