Bangkok, the vibrant capital of Thailand, has been flagged in a recent Mastercard study as one of the cities where reported fraud incidents are more prevalent compared to lower-risk destinations around the world. The study sheds light on the susceptibility of the tourism industry to fraudulent activities, particularly during peak travel seasons.
The Mastercard Economics Institute report underscores that transactions in Bangkok are more prone to encountering fraud in comparison to cities like San Francisco, Dublin, Seoul, Budapest, and Edinburgh, which exhibit lower rates of reported fraudulent activities. The study reveals that fraud in travel agencies and tour bookings surpasses the average across other industries by more than fourfold.
Notably, the report indicates a surge in reported fraud rates during warm periods at popular summer destinations and a staggering increase of 28% during the winter season at cold-weather destinations. In Bangkok, taxi and car rental services emerge as the primary areas where tourists are most vulnerable to fraudulent activities, constituting a significant 48% of reported fraud cases in the city.
David Mann, Chief Economist for Asia Pacific at the Mastercard Economics Institute, elaborates on the geographical variations in fraud patterns, highlighting that fraud sources differ across cities. For instance, in Los Angeles, the report identifies food businesses as a significant source of certain types of fraud, contrasting with other cities where travel-related sectors are more prone to fraudulent activities.
Specifically, the report points out that Phuket and Antalya witness higher levels of fraudulent activity concerning hotel bookings. In contrast, travelers reported lower rates of payment fraud in cities like San Francisco, Dublin, Seoul, Budapest, and Edinburgh, highlighting the varying risk levels in different destinations.
Scams in various locations also showcase distinct patterns. While issues with taxis and car rentals contribute minimally to reported fraud cases in Hong Kong and Barcelona, they make up a substantial 48% in Bangkok, emphasizing the challenges faced by visitors in the Thai capital.
Moreover, the report unveils a concerning trend of increased fraud during the booking stages of travel, with fraud related to trip planning rising by over 12% in the past year. The use of digital wallets and cashless payment applications, alongside booking trips with credit cards offering robust fraud protection, are recommended strategies to mitigate the risk of falling victim to scams.
Mastercard advises travelers to remain vigilant against suspiciously low prices, especially during peak travel seasons, and advocates for the adoption of new technologies like tokenization to enhance payment security. The report underscores the importance of safeguarding against financial losses by leveraging secure payment methods and being cautious during all stages of travel planning and execution.
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