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7,000 Brits to be victims of credit card fraud today

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It’s Cyber Monday today, the finale of the year’s biggest shopping weekend. But it’s also a big day for fraudsters.

As many as 7,000 people in the UK are expected to fall victim to credit card fraud today as criminals take advantage of an uptick in online transactions.

Research by ComparetheMarket said victims will lose an average of £846 each, suggesting that the value of credit card fraud on Cyber Monday will be around £6m nationwide.

Around 11 million UK adults have had to replace or cancel their credit card as a result of attempted fraud over the last year, the comparison site says.

Over a fifth of people (21%) said the fraud had occurred when making a payment online, meaning that on average around 6,330 shoppers are defrauded per day after making online purchases.

Shoppers are being urged to protect themselves against common scammers’ tricks, including phishing emails, fraudulent websites and scams.

John Crossley, head of money at ComparetheMarket, said: “Cyber fraud is a significant issue for consumers and retailers – especially at this time of the year.

“On Cyber Monday customers should be extra vigilant, especially as our research suggests falling victim to a scam can cost you dearly. It’s important not to make yourself vulnerable to hackers. Ensuring you have separate passwords and pins for different accounts or cards and are familiar will some of the tricks fraudsters use will help keep your money secure.”

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