A MERRY CHRISTMAS FOR INTERNET RETAILERS AS BRITS WILL SPEND £2.9 BILLION ONLINE THIS YEAR

Festive shoppers urged to take steps to ensure they protect their IDs online in the festive internet rush
 

Capital One has found that online retailers could be in for a bumper Christmas as UK gift-givers will spend an average of £2.9 billion online on presents alone this year - almost a quarter of the nation's total £11.6 billion gift budget for 2007.* Capital One also urges internet users to be vigilant with their details during the festive rush online to protect against the potential for identity theft.
 

The research* found that the average household spend on gifts bought over the internet will be £226.26, and 12.8 million households will head to the web for their shopping this season (85% of the UK's almost 15 million internet-connected households).
 

It also found that some 12% of online shoppers report they have fallen victim to online fraud. Whilst identity theft is rare, this means that as many as 1.5 million households could be victims of identity theft over the festive period if basic safeguards are not followed.**
 

Srini Gopalan, UK Senior Vice President of Capital One says: "Many shoppers will head to the web as much for convenience as to save money this year - having all your gifts arrive on your doorstep, many already wrapped, can be less stressful than battling the high street hoards.
 

"Taking a few precautions will substantially lower the risks of falling victim to criminals - and if the worst happens, we have put teams in place throughout the Christmas season who will offer advice and assistance. Through our free Identity Theft Assistance, Capital One customers can obtain advice to help prevent and spot identity theft. If a Capital One customer discovers they have been a victim of identity theft they will receive support from a named advisor to help at every stage of the resolution process.
 

Capital One makes the following recommendations to keep your ID safe online while shopping online over the Christmas period:
 

• Check the validity of a website before you enter any personal details. There should be a padlock symbol at the bottom right of the screen and the website address should begin https:// (The 's' signifies secure).
• Never reveal personal information in response to an email.
• Don't open spam emails. Sometimes they contain files that indicate if it is an active address. Similarly, if you open an email that offers you the chance to 'unsubscribe', don't reply unless it is from a trusted source.
• Never open an email from an unknown source.
• If you are suspicious of a link, type in the URL yourself - clever criminals can disguise their website addresses.
• Avoid using obvious passwords eg. mother's maiden name. Use a mix of numbers and letters.
• Ensure that you have virus protection and update this as appropriate
• You should ensure that you always check your bank and credit card statements on a regular basis. If you find any transactions you don't recognise you should contact your bank or card provider to query the transaction immediately.
• You might receive an email that claims to be from your bank or credit card provider requesting personal details such as your password. NEVER give these details out.

 

Srini Gopalan concludes: "The tell-tale signs of ID theft often include unexplained items appearing on bank and credit card statements, receipt of bills and receipts of goods or services you haven't asked for, being told you are already claiming state benefits you weren't aware of, or being refused a financial service despite having a good credit history.
 

"The best advice for preventing identity theft is to take steps to protect your personal information by redirecting your mail when you move house, keeping important documents in a safe place, and safeguarding your PIN and password details at all times. Additionally, regularly getting a copy of your personal credit file from a credit reference agency will allow you to spot applications or accounts that have been set up without your knowledge."
 

Capital One offers customers free Identity Theft Assistance to help its customers protect themselves against the perils of ID theft, and to pick up the pieces if they do get caught out. The newly updated identity theft service is the only one of its kind to provide a dedicated named adviser to provide help at every stage if a cardholder discovers they have been a victim of ID Theft. The service can also offer advice on preventing ID theft for any cardholders who want to ensure they are doing all they can to protect their ID.
 

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* Research conducted by ICM of a representative sample of 1,951 UK adults between 9-11th November 2007.
 

A representative sample of UK adults were asked whether they would buy gifts online this Christmas, if so, how many and how much they would spend on average on these gifts. The same people were also asked what they would spend on gifts overall: enabling Capital One to establish online gift spend and total gift spend online and in the high street.
 

** Based on research conducted by Get Safe Online, quoted in Daily Telegraph 26 March 2007
 

Contact:

Sally Camm / Becky Paterson Capital One 0115 843 3676 / 6484

Elizabeth Bickham / Rowena Denham Fishburn Hedges 020 7893 4321

About Capital One:

Capital One Financial Corporation trades on the New York Stock Exchange. In 1996 Capital One launched its first overseas operation in the UK offering credit cards, savings and loan products to UK customers. The UK Operations Centre for Capital One Bank (Europe) plc is located in Nottingham, where more than 2,000 Associates are based. Capital One is a top-ten credit card issuer in both the USA and the UK, with more than four million UK customers. Capital One's subsidiaries collectively have approximately 50 million managed accounts and $144 billion in managed loans. The Bank has won numerous industry awards for its products and services as well as accolades for its consistent work within the communities in which it operates.
 

Capital One has consistently provided market-leading consumer-lending products to its customers. In the UK Capital One was among the first credit card issuers to offer a 0% introductory purchase rate, combining this with one of the lowest 'go-to' rates on the market.
 

Capital One is authorised and regulated by the Financial Services Authority.