Fraudsters are stealing money from people’s bank accounts by tricking them into divulging personal details online.
Traditional card fraud is actually down, but ‘phishing’ is on the increase rising 16% last year.
Criminals send emails by tricking people out of their personal details through scams, or by infecting home computers with software that gathers details.
Mel Morris, of the online security software firm Prevx, said online fraud was relatively easy to commit: ‘It’s possible to buy a kit online for a few thousand pounds and you can be in the business of trying to perpetrate online fraud,’ he said.
The much maligned chip-and-pin system was actually highlighted as the major factor behind an 11% fall in fraud on lost and stolen cards – now at its lowest for two decades.
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