Online fraud hits new highs in UK

Wednesday, September 17, 2014 - 11:02 by Simon Crisp

British shoppers are being targeted by cybercriminals in greater numbers than ever before, with the latest figures from Financial Fraud Action showing that 2014 has been another record year for this kind of activity, according to the Yorkshire Post.

In the first half of 2014, consumers in the UK were swindled out of £110 million by fraudsters, which is 23 per cent more cash than was taken during the same period last year. This statistic does not even take into account the £29.3 million which was stolen as a result of online bank fraud, indicating that there are still many risks being faced by people who use the internet for financial transactions.

While in the past the biggest concern for those attempting to carry out safe shopping online has been phishing sites, which pose as genuine retail outlets in order to steal private data, there is a new threat on the rise. This is the practice known as ‘vishing,’ which is a more hands-on approach to fraud that involves criminals actively phoning consumers in order to trick them into giving away precious info.

By pretending to be business representatives or even officers of the law, these phone scammers attempt to get online login details from people, so that they can then exploit access to their accounts for nefarious reasons.

Consumers need to remember that no bank, retailer or police representative will ask for this kind of information over the phone as part of a cold call. And to carry out safe shopping online, it is best to keep your login details to yourself and only shop with reputable sites, so that you can steer clear of the many phishing scams and attempts at exploitation that still exist on the web to this day.