Internet fraud is expected to cost at least £50m this Christmas, with thieves using the card details of unsuspecting customers to buy a host of expensive goods online, analysts believe. Criminals are increasingly turning to using credit and debit card details to order items over the internet or the telephone knowing they are virtually untraceable.
The cost to retailers was £57m in the year up to March this year, an increase of 94% on the previous 12 months. Analysts predict the problem could top £110m by next year, with a large part of the fraud taking place around Christmas. Vital card details can be obtained through a number of methods including computer hacking, card generation software or simply picking up discarded receipts.
Goods most commonly bought by fraudsters include computers, designer goods, mobile phones and jewellery. The first most customers know they have become a victim is when they open their monthly statement.
News source: Sky News
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