Take Five- To Stop Fraud

Millions of Brits are putting themselves at risk of financial fraud just to bag an online bargain.

Almost a third of online shoppers admit they’re more likely to take a financial risk to get a good deal.

Younger shoppers are most at risk as they’re more likely to take a chance.

Ahead of Black Friday and Cyber Monday,

Financial Fraud Action (FFA UK) urges online shoppers to be vigilant to fraudsters’ tactics and ‘Take Five’ before they click on the buy button Almost a third (31 per cent) of British online shoppers admit that they are more likely to take a financial risk (for example shop on an unfamiliar or unsecure website) if an online retailer offers them a bargain,

research released by Financial Fraud Action UK (FFA UK) reveals today.

Be Aware of Fraud

It means there are potentially 15 million online shoppers who could be putting themselves at risk of financial fraud.

Those aged 16-34 are most at risk,

with almost half of that age group (46 per cent) admitting they are more likely to take a chance,

compared to just 18 per cent of people aged 55 or over.

The findings come at the start of the festive shopping season,

with Black Friday (25 November) and Cyber Monday (28 November) offering an upsurge of deals and limited time discounts.

It is also a time when fraudsters will benefit from the bargain frenzy as they try to entice people into giving away their debit and credit card details on fake retail websites.

Criminals use scam emails, or fake ads on social media,

or internet searches promising heavy discounts for desirable goods, to trick people into visiting the fake sites and entering their card details.

Once the fraudster has harvested this information, they can then use the details to commit remote purchase fraud.

The research by FFA UK, carried out as part of Take Five

– a campaign backed by all major banks and key financial services providers across the UK,

also reveals other ways shoppers are putting themselves at risk:

• more than one in five (22 per cent) online shoppers admit they never check the authenticity of an online retailer – such as looking for the padlock icon before making an online purchase,

almost one in five (19 per cent) online shoppers admit they would click on an unsolicited email if it promised them a good deal

Consumers and businesses can get more tips and advice on how to protect themselves from financial fraud by visiting the campaign website www.takefive-stopfraud.org.uk.