UK consumers ignoring growing threat of online fraud

August 20, 2007 – Half of consumers in the UK are not concerned about the rise in online fraud and feel that there is little they can do to prevent it happening, according to a new report by Lloyds TSB.

The report also found that over a quarter of Britons believe that Internet fraud does not concern them as “these things happen”, with many respondents saying they believed there was little they could do to prevent it.  Nine in ten respondents reported that they had done all they could to minimise the risk of being targeted, however nearly a quarter admitted that they could be better informed about online security.

“Internet fraud is an issue no one can afford to ignore and it is by no means a victimless crime,” said Ian Larkin, Managing Director of consumer banking for Lloyds TSB.  “Its impact stretches far beyond the customer whose money is taken and the bank it is taken from, with the proceeds often used to fund other more serious crime around the world.”

The executive urged people who use online banking to choose strong passwords, keep their computers updated and their details secret at all times.  Another recent survey by Microsoft found that almost one in five Internet users in the US had been a victim of at least one scam, with 81% of respondents admitting that they had done something to compromise their security, such as opening an unidentified email attachment.