More than one in 10 online shoppers who were “stung” by scammers reported losing more than €500, writes Ayaat Yassin-Kassab.

As Cyber Monday deals begin today, shoppers are urged to be vigilant against fraudsters taking advantage of cyber illiteracy.

A fifth of all regular online shoppers – buying at least once a month – lost money through scams in the past year, according to FraudSmart, an initiative led by the Banking and Payments Federation Ireland (BPFI).

BPFI head of financial crime Niamh Davenport warned: “During this peak online shopping period there is an increased risk to shoppers, with fraudsters primed to take advantage of Cyber Monday and the Christmas rush.”

Scammers often use contaminated links hidden within emails, social media and online adverts which lead unsuspecting shoppers to counterfeit websites.

These fake sites often impersonate well-known shops or brands, offering “discounted deals” to entice people, only to disappear after a shopper has made a payment, leaving them without their purchases and out of pocket, Ms Davenport said.

“Worryingly, our research highlights that one in five online shoppers isn’t taking basic security precautions.

“Almost half confess to clicking on links from social media or pop-up ads instead of independently visiting and checking the website of the company.”

To ensure online shopper safety, FraudSmart has launched a new tool – Scamchecker.ie – which offers an easy way to check the legitimacy of a website before purchasing.