We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Brits lose £697 each in online fraud

One in 10 have been a victim

The average amount lost by victims of online fraud has risen to £697 per person, says Verisign Authentication.

The security firm's Online Fraud Barometer revealed that's just almost double the average figure of £352, which was reported in March this year.

Verisign Authentication, which was purchased by Symantec earlier this year, said the number of Brits that have been victims of online fraud remained at 10 percent. However, of these, 71 percent said they suffered financially, with 15 percent claiming to have lost more than £1,000.

More than four in five (82 percent) of those that lost money through online fraud were fully reimbursed but of those that were not or only partially reimbursed, eight percent believe they'll never see all of their money returned, which is double the number in March.

The report also revealed web users are becoming less security conscious, with 80 percent claiming only to shop from websites with enhanced security features, that's two percent less than in the last report.

"While the rest of the country is working its way out of recession, the latest VeriSign Authentication Online Fraud Barometer shows how lucrative online fraud has become for cyber crooks," said Matthew Bruun from VeriSign Authentication.

"It's vital for consumers to appreciate how skilful these criminals are and take the appropriate measures to protect themselves online. Before inputting any personal details on a web site – whether it's their address, date of birth, or credit card information – consumers must take the time to check a site's security policies and credentials."

Bruun also urged web users to look out for security certificates and seals.

See also: 1 in 8 Brits have experienced ID fraud


IDG UK Sites

Acer Aspire R11 review: Hands-on with the 360 laptop and tablet convertible

IDG UK Sites

Apple Watch release day: Twitter reacts

IDG UK Sites

See how Framestore created a shape-shifting, oil and metal based creature for Shell

IDG UK Sites

Apple Watch buying guide, price list & where to buy today: Which Apple Watch model, size, material,?......