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Combating Cyber Fraud in the Aviation Industry
Source: Finance Derivative
Written by Andrea Feldman, Senior Cyber Threat Intelligence Analyst at BlueVoyant
Fraudulent cyber-attacks targeting the airline industry are a common issue largely seen coming out of the underground, such as the deep and dark web. According to RSA Security, airlines are the industry most affected by online fraud, accounting for 46% of fraudulent transactions. As a result, the financial costs for airlines are huge with losses due to fraud estimated at 1.2% of the total global airline revenue.
Over the past few years, there has been a significant spike in threat actors targeting the aviation industry worldwide, due to airlines’ increasing reliance on online booking and reservation platforms. These online tools make it more convenient for customers to purchase airline tickets and have become an industry standard. However, it has also enabled fraudsters to exploit vulnerabilities in online systems. The significant disruption and increase in remote work caused by the COVID-19 pandemic has also caused an increase in fraud in recent years.
Analysing Fraud in the Underground Market
Posts offering flight tickets or compromised accounts with frequent flyer miles or reward points at advantageous prices are very common in underground forums, chat platform groups, and even on social media. Threat actors commonly sell flight tickets at reduced prices by using compromised credit cards to purchase tickets. These kinds of posts are frequently seen in the underground market targeting airlines worldwide. Threat actors typically purchase the flight tickets a few hours before the flight, reducing the likelihood of the airline identifying the fraud in time.
Compatible BIN numbers
It is also common to see posts in underground forums where threat actors seek specific credit card BINs that perform well when booking with certain airlines.
Compromised Travel Agent Consoles
Nevertheless, some threat actors obtain tickets by hacking travel agents’ accounts or conducting fake bookings. Examples include threat actors plotting in an underground forum offering access to a travel ticket panel for sale.
Messages from a threat actor can include mentions of the fake travel panel and its ability for users to instantly issue plane tickets under any name, on any airline, or to any destination. Furthermore, the threat actor can note that the access originates from a large, legitimate company with many accounts, which increases the difficulty for the breach to be detected.
Compromised Frequent Flyer Accounts
Frequent Flyer programs are also heavily targeted in the underground market as another way to issue fraudulent flight tickets. Threat actors offer compromised frequent flyer account credentials for sale, often at advantageous prices. These credentials, which include frequent flyer miles or reward points, are obtained through fraudulent methods such as phishing or hacking into customer accounts. The attackers then steal points or miles and redeem them for flights or other rewards. Access to the compromised accounts themselves is then sold separately.
Fraudulent activities can lead to financial losses for an airline due to chargebacks, increased operational costs for fraud prevention, and damage to the airline’s reputation.
Mitigation of Aviation Fraud
To combat this kind of fraud, it is crucial to enhance security measures and ensure the effectiveness of fraud prevention systems. Employee training and awareness are also essential components for implementing prevention techniques.
Given that fraudsters continuously adapt their methods, it is important to:
· Regularly review and update fraud prevention policies and procedures to address evolving threats
· Conduct thorough internal audits to identify any gaps or exploits in existing systems and processes
· Stay informed about emerging technologies and industry standards to leverage innovative solutions for fraud prevention
· Enforce Multi Factor Authentication (MFA) for user accounts, and ensure password policies are effective and up to date
· Airlines should be monitoring for phishing websites impersonating them, compromised accounts sold in the underground and other fraudulent activities in the dark web.
As the risk of fraud within the aviation industry continues to pose a threat, organisations must be prepared to implement stringent security measures. Companies should look to partner with cybersecurity partners which offer impersonation and fraud detection solutions. They must also implement dark web monitoring and brand protection services, essential to actively monitoring underground communities. This will enable companies to stay ahead of fraudsters, helping to triage the most serious threats that can otherwise have a severe impact on an airline’s reputation and customer experience ratings in a significantly competitive market.
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How innovative lubricants are advancing sustainability in e-mobility
By Leyla Alieva, Co-Founder and CEO of NEOL Copper Technologies, and Professor Boris Zhmud, CTO, Tribonex AB
In the rapidly transforming automotive sector, e-mobility stands out as a pivotal area of innovation and growth. The advancement of e-mobility solutions is having an important impact on our society, with more people choosing greener transportation methods as they become environmentally conscious. Current environmental policies and rapid adoption mean the global electric vehicle (EV) fleet is set to grow twelve-fold by 2035[1].
However, keeping EVs, along with hybrid vehicles, well-maintained is a challenge. Securing a more sustainable future means delivering reliable e-mobility solutions, affordable for customers. Overcoming concerning worries over long-term dependability of EVs is essential to ensuring user confidence. Even though most failures in modern vehicles are electric, tribology still plays an important role. Friction and wear are always there. A faulty control module and a faulty bearing in electric motor will bring the same level of nuisance to the vehicle’s owner. Hence, effective collaboration between mechanical engineers and lubricant developers is crucial for adoption of EV technology.
While there are more environmentally friendly vehicles being manufactured, there has also been a rise in high-efficiency lubricants that can offer more substantial protection against component wear. This article will address the strenuous circumstances that cause wear in both EVs and hybrid vehicles, how these challenges can be resolved and why embracing a range of technologies will be pivotal in developing sustainable e-mobility solutions.
Facing the challenges in e-mobility lubrication
To shed light on the complexities and future trends of this critical industry, it is important to establish the lubrication challenges facing vehicle and component manufacturers. For hybrid vehicles, the intermittent operation of internal combustion engines at lower temperatures poses significant issues, such as increased water accumulation in the engine oil and higher fuel dilution. These conditions result in specific tribological stress on engine components, necessitating specialized lubricant solutions.
Fully electric vehicles present a different set of challenges. Their electric motors operate at high speeds, at around 12,000 to 18,000 rpm, and this demands that lubricants withstand these rigorous conditions, with high-performance motors reaching 24,000 rpm. These speeds are only set to increase as well. For instance, motors running at 30,000 rpm are being prepared for the next generation of EVs and there already are experimental designs of interior permanent magnet synchronous motors (IPMSM) reaching 100,000 rpm. With these extremely high speeds in mind, material compatibility and the need for effective cooling solutions further complicate the development of suitable lubricants for EVs.
Addressing these challenges requires innovative solutions in both hardware and lubricant formulations. There have been several key advancements that would support both hybrid and electric vehicles. Lower viscosity synthetic oils are a good example of a lubricant that could significantly benefit hybrid vehicles, offering improved flow in cold-start conditions.
For high-speed electric motors in EVs, methods like force lubrication and spray lubrication are being developed, as traditional splash lubrication is often inadequate. Finally, waterborne lubricants are being explored for their superior cooling properties. However, while these are hoped to be more comprehensive solutions, they are still in development.
The potential of copper filming technology
Lubricant developers are always looking for new ways to improve the sustainability and reliability of vehicle components. One avenue that is showing promise is the development of lubricants with copper filming technology. It offers unique protective properties against hydrogen-related damage, which is prevalent in tribological contacts.
The technology, particularly using metal-organic copper compounds, is compatible with EV systems, avoiding issues like copper corrosion that limit other additives. Higher affinity of copper additives to surfaces makes it potentially more effective than traditional zinc-based detergents. Furthermore, even though copper is considered to be an oxidation promotor, copper additives are not. In fact, oxidation tests show that copper additives act synergistically with antioxidants. Hence, synthetic lubricants deploying the copper filming technology are characterized by an extended service life.
Early results from numerous real-world and laboratory-controlled projects that include testing copper filming technology in crankcase lubricants have demonstrated quantifiable performance benefits. This technology has shown to not only reduce friction but also provide wear protection, which is crucial for performance and efficiency.
Embracing collaborative development
In order to overcome these challenges around lubrication, the e-mobility sector could adopt a consortium model to enhance collaboration between mechanical engineers and lubricant developers. By bringing together hardware designers and lubricant formulators early in the development process, the industry can create tailored solutions for the diverse range of EV hardware. This approach requires open communication, collaborative testing programs and data sharing, focusing on developing bespoke solutions rather than one-size-fits-all products. Streamlining approval processes is also critical to encourage innovation, especially from smaller companies.
By embracing new approaches and lubricant technology, as well as fostering collaboration, the automotive industry can overcome the challenges of EV lubrication. As EV adoption continues to rise, there is pressure on manufacturers to make their vehicles reliable and thanks to the latest developments there is a pathway for a sustainable, efficient future.
While it would be right to be cautious about predicting a fully electric fleet within the next 20 years, there is hope that a more pragmatic multi-technology approach can achieve carbon neutrality in the future. As well as e-mobility, fuel cells, hydrogen engines, and renewable fuels each have a significant role to play. This diversified strategy is necessary to overcome the limitations of resources, current energy mixes, and the carbon footprint associated with battery manufacturing and recycling.
[1] https://www.iea.org/reports/global-ev-outlook-2024/outlook-for-electric-mobility
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Could 3D Solid State Batteries Accelerate the Adoption of Electric Vehicles
As we push towards the goal of net zero by 2025, the era of the internal combustion (IC) engine is drawing to a close.
Although consumer reliance on the humble petrol- or diesel-fueled motor car has been climbing at a steady and predictable pace ever since Henry Ford-style mass production caught on, there has been a modest dent in the demand for traditional vehicles, with nearly one in five cars sold in 2023 being electric.
So will this trend continue to grow? We would argue yes, but putting a timescale on this is a tricky task: the predictability we have seen with IC vehicles doesn’t apply to everything. Not all innovations buck conform to one clearly defined trend. And this appears to be the case with electric vehicles.
With nearly 20% of new cars being electric in some regions, electric vehicles (EVs) are steadily increasing their market share. In fact, in countries like Norway, adoption reached around 80% in 2023. This year, it’s projected that 25% of passenger car registrations will be electric, surpassing 17 million units in global sales. These numbers indicate a significant upward trend in EV adoption, especially in recent years.
Nonetheless, even taking these encouraging figures into account, EVs still only represent a small proportion of all vehicles on the road. This needs to change otherwise there’s a danger that EV adoption could stagnate.
What needs to change to boost EV adoption?
Apart from the natural laws of supply and demand, the main limitations hindering EV development are most notably cost, slower recharge rates and limited range.
This is where batteries come in as the key to addressing these hindrances.
Batteries designed for vehicles focus on overcoming a range of challenges. Weight, cost, and the sourcing of materials are all significant. Beyond these, one factor stands out. With, nearly 50% of consumers claimed they’d need a higher real-world range to consider switching from ICE vehicles to electric cars according to a recent survey by GoCompare – the limitations posed by a battery’s range is a key factor to be addressed.
This means that we are a long way off being reliant on fossil fuels to power our vehicles. However, a solution might be closer than we think.
LionVolt’s cutting-edge battery technology is a driving solution for electric cars and sustainable aviation by creating groundbreaking 3D solid-state technology for next-gen batteries.This new technology could be key to far greater EV uptake at a scale that could set a steep new trend.
What are 3D solid-state batteries, and how do they work?
The key to overcoming the challenges limiting the shift towards electrification are batteries and cells that are much faster to charge than those currently used and can extend range and performance. Central to these developments are advances in lithium-ion batteries.
In terms of range, the science revolves on energy density – how much energy can be packed into each battery for a given weight. To achieve high density, we are seeing a shift to more advanced products from materials commonly used in today’s cells. New anode technologies, including silicon and lithium, will increase today’s range and can be ‘dropped into’ the existing supply chain. To get a significant increase, the production process involves switching the flammable liquid common to old-style batteries with a solid, non-flammable material.
Obvious benefits to drivers and the planet alike range from,faster charging, higher performance, intrinsically higher standards of safety, longer battery life, and radically lowered carbon footprints
The real gamechanger here is extended range: driving ranges upwards of 800 km—or about 500 miles—are no longer the stuff of EV drivers’ imagination and this could be the stepchange we need for mass adoption.
LionVolts innovations in the battery space address consumer demands for extended range while also offering a safer, more sustainable alternative to traditional batteries.
This lays the foundations for an increased uptake of EVs in the future, but electric cars are not where the innovations end. LionVolt are also developing larger versions of these batteries that have the very real potential of fueling aviation. We could say when it comes to electrification to achieve net zero, the sky’s the limit (no pun intended!).
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The Benefits of EV Salary Sacrifice: A Guide for Employers and Employees
As the UK government continues to push for greener initiatives, electric cars have become increasingly popular. The main attraction for both employers and employees is the EV salary sacrifice scheme.
By participating in an EV salary sacrifice scheme, both employers and employees can enjoy cost savings and contribute to environmental sustainability along the way! This article will delve into the specifics of how these schemes operate, the financial advantages they offer, and the broader positive impacts on sustainability.
We will provide a comprehensive overview of the mechanics behind EV salary sacrifice schemes and discuss the various ways in which they benefit both employees and employers, ultimately supporting the transition to a greener future in the UK.
What is an EV Salary Sacrifice Scheme?
An EV salary sacrifice scheme is a flexible financial arrangement that permits employees to lease an EV through their employer. The key feature of this scheme is that the leasing cost is deducted directly from the employee’s gross salary before tax and National Insurance contributions are applied. By reducing the taxable income, employees can benefit from substantial savings on both tax and National Insurance payments. This arrangement not only makes EVs more affordable for employees but also aligns with governmental incentives to reduce carbon emissions.
For employers, implementing an EV salary sacrifice scheme can lead to cost efficiencies as well. The reduction in National Insurance contributions on the employee’s reduced gross salary can offset some of the costs associated with administering the scheme. Additionally, such programmes can enhance the overall benefits package offered by the employer, making the company more attractive to prospective and current employees.
Benefits for Employees
1. Tax and National Insurance Savings
By opting for an EV salary sacrifice scheme, employees can benefit from reduced tax and National Insurance contributions. Since the lease payments are made from the gross salary, the taxable income decreases, resulting in substantial savings.
2. Access to Premium EVs
Leading salary sacrifice car schemes often provide access to high-end electric vehicles that might be otherwise unaffordable. Employees can enjoy the latest EV models with advanced features, contributing to a more enjoyable and environmentally friendly driving experience.
3. Lower Running Costs
Electric vehicles typically have lower running costs compared to traditional petrol or diesel cars. With savings on fuel, reduced maintenance costs, and exemptions from certain charges (such as London’s Congestion Charge), employees can enjoy significant long-term financial benefits.
4. Environmental Impact
Driving an electric vehicle reduces the carbon footprint and supports the UK’s goal of achieving net-zero emissions by 2050. Employees can take pride in contributing to a cleaner environment.
Benefits for Employers
1. Attract and Retain Talent
Offering an EV salary sacrifice scheme can enhance an employer’s benefits package, making it more attractive to potential recruits. It also helps in retaining current employees by providing them with valuable and cost-effective benefits.
2. Cost Neutrality
For employers, EV salary sacrifice schemes are often cost-neutral. The savings on National Insurance contributions can offset the administrative costs of running the scheme, making it an economically viable option.
3. Corporate Social Responsibility (CSR)
Implementing an EV salary sacrifice scheme demonstrates a commitment to sustainability and corporate social responsibility. This can improve the company’s public image and align with broader environmental goals.
4. Employee Well-being
Providing employees with a cost-effective means to drive electric vehicles can contribute to their overall well-being. With lower running costs and the convenience of driving a new EV, employees may experience reduced financial stress and increased job satisfaction.
How to Implement an EV Salary Sacrifice Scheme
1. Assess Feasibility
Evaluate whether an EV salary sacrifice scheme is feasible for your organisation. Consider the number of interested employees, potential cost savings, and administrative requirements.
2. Choose a Provider
Select a reputable provider that offers a range of electric vehicles and comprehensive support services. Ensure they can handle the administrative tasks and provide a seamless experience for both the employer and employees.
3. Communicate the Benefits
Educate your employees about the advantages of the scheme. Highlight the financial savings, environmental impact, and access to premium EV models. Provide clear guidance on how they can participate in the programme.
4. Monitor and Review
Regularly review the scheme’s performance to ensure it continues to meet the needs of your employees and the organisation. Gather feedback and make adjustments as necessary to enhance the programme’s effectiveness.
Conclusion
The EV salary sacrifice scheme offers a win-win situation for both employers and employees in the UK. With significant financial savings, access to premium vehicles, and a positive environmental impact, it’s an attractive option for forward-thinking organisations. By implementing such a scheme, employers can demonstrate their commitment to sustainability and employee well-being, while employees can enjoy the benefits of driving an electric vehicle at a reduced cost.
Adopting an EV salary sacrifice scheme is a step towards a greener, more sustainable future for everyone.