Consumers encouraged to analyse festive finances

People should pay close attention to their bank balances as Christmas approaches, it is suggested, with financial fraud posing risks.

Figures published by Adeptra show that as many as 67 per cent of UK consumers polled in a recent survey only take a look at their bank and credit card balances on a monthly basis.

Meanwhile, ten per cent of those queried do not bother to look through their statements at all, which may cause them to gain a bad credit rating if they fall victim to fraud.

Adeptra's chief executive officer Lou Venezia commented that the festive period may see a rise in fraud this year.

They said: "The run up to Christmas sees a peak in fraudulent activity due to the increased fraud opportunities that arise."

Meanwhile, the consumer group Which? has also encouraged Christmas shoppers to raise their security awareness when going online this winter.