According to some studies, 72% of loyalty programs have experienced fraud-related issues. The associations formation is in response to criminal activity by fraudsters who exploit weak links in loyalty and reward programs chains.
The LFPA will help loyalty programs understand loyalty fraud prevention and, serve as a resource and central database for known loyalty fraudsters, establish best practices for preventing fraud, and educate loyalty program members via workshops and conferences.
As part of its mission and objectives, LFPA will establish and share best practices to stop loyalty program fraud and a central online database of known fraudsters.
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