New figures released in the updated 2023 Fraud Report from the credit card experts at money.co.uk, reveals that there has been a rise of 1,407 cases of fraudulent activity in April, May and June, in comparison to the first three months of the year, at a cost of £593 million, Finextra reports.
This takes the total fraudulently stolen cash to almost 3 and a half billion pounds in the past 12 months.
Online shopping fraud accounted for more than 20% of all fraud and cybercrime reports in the quarter.
James Andrews, money.co.uk credit card expert, said:
“Cyber crimes have cost Brits nearly £4 billion in the past year. This is a reminder for us how important it is to protect our digital data and be more vigilant when making purchases online.
Ensuring online accounts have a strong password is an important step towards cyber security. Spelling out a memorable phrase using a mix of numbers, symbols, and acronyms is generally effective e.g T3rRy550c1alMed!Ac1234 (Terrys Social Media Account) You can do this to customise for each site.
Make your passwords as long as possible while still memorable and use lowercase, uppercase, numbers, and symbols in every password. If you’re worried about forgetting them, you can use a password manager.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
