Over 12 million Brits have fallen victim to online fraud

Almost one in four Brits (23 percent) have been victims of fraud when shopping online -- with eight percent duped more than once, according to a new study The inaugural Fraud Tracker report from online payment service Shieldpay  shows that the average victim loses £608, yet receives only £55 back from their bank. One in seven victims (14 percent) tricked while buying online were defrauded by more than £1000. When looking at the difference between the sexes, the cost of fraud is higher for men -- incurring a loss of £139 more. Banks are facing increased scrutiny about how they… [Continue Reading]