Nationwide is warning shoppers as it reveals ‘card not present’ fraud – when someone’s card details are stolen online or scanned – is the building society’s most common fraud this year.
It comes as many outlets use the Monday preceding Black Friday to kickstart their sales. Nationwide’s spending data from the same Monday last year recorded a 25 per centii rise in Black Friday retailer spending, compared to a typical Monday.
‘Card not present’ fraud, which relates to remote purchases of goods and services accounts for nearly a quarter (22%) of all fraud cases in 2024.
The building society’s data reveals four in ten (42%) 25 to 44-year-olds have fallen victim to card not present. This compares with just seven per cent of those aged over 75.