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Consumers warned against fraud threat

UK Finance has warned that fraudsters are exploiting Christmas shoppers.

An increasing number of consumers have been forced to turn to online shopping due to the coronavirus pandemic, but people seeking to buy things like consoles and clothing in time for Christmas may be at a heightened risk of being scammed.

Katy Worobec, the managing director of economic crime at UK Finance, explained: "As consumer spending has shifted online, criminals have ruthlessly adjusted their approaches to pursue those shopping on the internet.

"With Black Friday and Christmas approaching, fraudsters are again stepping up their efforts to take advantage of consumers searching for bargains."

Although efforts are being made to safeguard consumers, people have been urged to remain "vigilant".

She explained: "The banking and finance industry is working hard to protect customers from this threat, with almost £7 in £10 of unauthorised fraud prevented in the first half of this year.

"However, we must all must remain vigilant against scams. Always take a moment to stop and think before parting with your money or information, and don’t let a criminal rush or panic you into making a decision that you’ll later come to regret."

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