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Online shopping: Keeping safe during the January sales – London Business News

It’s that time of year again. With Christmas out of the way, many of us are busy looking at what deals there are to be had in the January sales.

When it came to present-buying for Christmas, almost two-thirds (64%) of Londoners said they planned to shop virtually. But with a fifth (19%) having previously fallen victim to scams in the past, it’s never been more important to stay safe online.

First of all, scammers are more sophisticated than ever before. The pandemic saw more people increase their reliance on digital services, and fraudsters have sadly exploited this.

Secondly, scams and fraud are some of the most common forms of crime in the UK. Although the banking industry was able to prevent the loss of £1.8bn in 2019, criminals were still able to steal more than £1.2bn.

The impact isn’t just financial. It can also have a devastating emotional and physical impact on those affected.

At Lloyds Banking Group, we take our responsibility to keep people safe online extremely seriously. We have some of the most sophisticated technology in the world protecting our customers from fraud. This ranges from advanced payment verification to fraud detection systems – and we constantly campaign to raise awareness among consumers too.

But financial services firms like ours can’t keep the internet safe on our own. There is still much more to be done. Alongside banks, social media and search engine businesses also have a role to play in keeping people safe.

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