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The ten biggest online scams lost victims across the country £670million over 2014 – and this figure is likely to be far higher due to unreported cases, National Fraud Intelligence Bureau data reveals.

The case of a victim known only as Chris, who had thousands stolen by fraudsters who simply rang his bank to gain details and also conned his Facebook friends into sending money too, is highlighted by Get Safe Online.

It comes as a study found half of those who have been a victim of cyber fraud – which includes ID theft, economic losses, hacking and viruses - said they felt either 'very' or 'extremely violated' by their ordeal.

The survey also revealed 53 per cent of the population now view online crimes as seriously as 'physical world' crimes, destroying the notion internet fraud is 'faceless' and of less importance than other offences.

It found 47 per cent of victims did not know who to report an online crime to, although this figure is expected to drop through the on-going work of Action Fraud, the UK's national fraud reporting centre - and the considerable Government resources now dedicated to fighting cyber crime.

Online Shopping and Auctions Fraud involves a wide variety of methods, including bogus websites, or the exploitation of legitimate sale platforms and spoofed payment services, that whilst looking legitimate, are in fact controlled by the fraudster.

Another recent scam involves fraudsters exploiting online shopping applications Francis Maude, minister for the Cabinet Office, said: 'The UK cyber market is worth over £80billion a year and rising.

The internet is undoubtedly a force for good but we cannot stand still in the face of these threats, which already cost our economy billions every year.

Nearly half have opted for stronger passwords and are now extra vigilant when shopping online.

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