The festive shopping season has become a lucrative period for cybercriminals, with the UK losing more than £11.5 million to online shopping fraud this past Christmas alone.
The alarming figure, almost £1 million more than in 2022, highlights the growing risk of fraud during Black Friday and the heavily discounted festive sales period.
Lord Hanson, the Minister of State responsible for tackling fraud, said:
“We know that more needs to be done to tackle online fraud. That’s why we are delighted to support initiatives like this, through the Stop! Think Fraud campaign, which provide practical, actionable advice to the public to stay safe from scams.”
According to Richard Horne, executive director of the National Cyber Security Centre (NCSC), fraudsters are using the cost of living crisis to target bargain hunters for holiday deals. He also said:
“Cybercriminals are using increasingly sophisticated scams, sometimes crafted with AI, to trick consumers.”
Thanks to these tools, fake adverts for clothing and high-tech appliances on social media and online marketplaces will be harder to distinguish from legitimate offers.’
Between November 2023 and January 2024, more than 16,000 online shopping scams were reported, costing victims an average of £695.
Analysis by the National Fraud Bureau shows that the most common victims of fraud were aged 30-39 (23 per cent of reports), followed by 40-49 year olds (20 per cent). The average age of victims was 42 years old.
