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Online fraud 'reaches highest-ever level in UK'

Online fraud has reached its highest-ever level in the UK, with as many as seven in ten users having been the recipient of potential 'e-scams' on at least one occasion over the past 12 months.

That is according to a new report which found that 77 per cent of those Britons polled had been targeted by phishing emails, whereby fraudsters attempt to trick them into parting with sensitive information, while 67 per cent had received at least one email informing them that they had won a lottery or competition that simply didn't exist.

Furthermore, the study, which was carried out by the life assistance company CPP, also found that around seven in ten people fear that online fraud will continue to grow as a problem, particularly now that the economic recession is causing criminals to become increasingly desperate.

Michael Lynch, identity fraud expert at CPP, also warned: "Although we are seeing very high levels of phishing email attacks asking for passwords and account details, we are now seeing more 'malware' attacks such as key-logging, where fraudsters can read what you type on your computer to capture your passwords and other sensitive financial information without you even knowing."

This new report follows on from figures released by the payment industry association APACS which showed that banking fraud now costs the UK economy £52.5 million a year.

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