Barclays say cyber Grinches are stealing Christmas

Christmas 2018 set to be the most fraudulent yet warns Barclays.

Barclays estimates this Christmas will be most fraudulent ever for online shoppers. With record levels of cybercrime and growth of festive e-commerce creating unprecedented levels of fraud, UK shoppers are set lose around £1.3bn to cybercrime this Christmas.

The number of consumers going online to shop for gifts continues to surge each year, yet research shows shoppers are unaware of how to spot fraudulent websites.

Almost half (44 per cent) of online shoppers in Belfast say they are either unsure or don’t know how to identify a secure website when shopping online. Meanwhile only a fifth said they check for the padlock authentication symbol in the address bar, with even less ensuring the web address starts with ‘http’.

This accounts for the fact that 31 per cent of people in NI have already been scammed in previous years while Christmas shopping online.

However shoppers in NI are growing increasingly incredulous of online security. Only a slim majority (61 per cent) said they feel confident about their online security around the Christmas period. This marks a noticeable drop in confidence compared with other times of year, when 77 per cent report they feel secure when purchasing online.

Joanna McArdle, relationship director at Barclays NI said: Whilst families in Northern Ireland are preparing to enjoy the festive season, criminals are ready to pounce on anyone who lets their guard down.

“Buying gifts online may be more convenient than heading to the shops, but with Christmas 2017 set to be the most fraudulent on record, online shoppers must be more vigilant than ever. Beat the fraudsters by looking out for the typical warning signs such as the padlock symbol on retailers’ websites.”

The rise in cybercrime is also a growing concern for retailers. With shoppers continuing to be defrauded in rising numbers, UK retailers could be losing out in up to £72m in lost revenue per year.