Airline Fraud SurveyA report looking at fraud in the airline industry |
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Airlines around the world are operating in a volatile, complex and ever changing environment. The risk of fraud is at the forefront of airline leaders and internal auditors’ agendas. The impact of fraud, whether perpetrated internally or externally, is significant not only to the bottom line, but also to the operation and the reputation of the airline.
Airline fraud has increased five-fold since the last in-depth study across the industry six years ago, with low cost carriers being the hardest hit. The average airline is now losing US$3 million a year to fraud, with credit card crime alone costing each airline around US$1 million a year.
The initial findings of the Airline Fraud Survey were presented by Deloitte at the annual IAAIA (International Association of Airline Auditors) Conference in November 2006. The survey was developed by Deloitte in conjunction with IAAIA and the results were analysed by Deloitte. Subsequently, Deloitte has produced this report to summarise the findings, enabling airlines to benchmark themselves against their peers, and understand the key steps they need to take to create a more secure and controlled business environment.
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Airline Fraud Survey 2006
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