Over the last 12 months, nearly ten per cent of British adults became victims of credit or debit card fraud, with over £2 billion being stolen from their accounts.
The latest findings from comparethemarket.com showed that 4.7 million people in the UK have been defrauded in the past year, losing £833 each on average.
This is a significant increase in value of 38 per cent when compared with the previous year’s figures at £233, showing how cyber fraudsters have become more confident with how much they are stealing.
Indeed, according to the report, the level of cyber fraud has dropped from 5.5 million people between May 2016 and 2017, while the money taken has dramatically risen.
Shakila Hashmi, head of money at comparethemarket.com, said this is “extremely worrying”.
She added: “It is also worrying that so few people decide to take action by moving provider after an attack takes place.”
Ms Hasmi stated that banks have a responsibility to ensure their customers’ details are protected, adding: “It is also vital that they jump on suspicious activity, something that our research suggests does not happen enough.”
In fact, nearly half (44 per cent) of those who have been hacked actually told their bank or credit card company, instead of the other way round. Meanwhile, 79 per cent of people do not move provider after a cyber attack.
Earlier this year, the HMRC warned the public of a scam whereby fraudsters were using the false identity of the HMRC and telling people they were owed a tax rebate to access their personal details, such as account information.
If you have been a victim of fraudulent activity, consider using debt recovery investigators in Surrey who may be able to help you retrieve any lost finances.
