February fraud alert as hackers cash in on data harvested during Christmas shopping bonanza

Small firms operating online need to be prepared for ‘unprecedented levels of attempted fraud’ this month, say payments experts.

Payments business Worldpay claims instances of fraud could rocket by as much as 80 per cent in February as hackers capitalise on customer data harvested during the Christmas shopping period.

Tim Lansdale, head of payment security at Worldpay, said: ‘We see a dip in fraud around Christmas as hackers go on the hunt for information, using the online sales rush to stockpile thousands of card details. It isn’t until February that they start cashing in on all the data they have collected.’