National Audit Office estimates shoppers lost £14.8bn last year and says protection systems do not provide value for money.
The UK is failing to keep up with online fraud, and systems to protect shoppers from scams do not yet provide value for money, the National Audit Office has warned.
The NAO estimated that consumers lost at least £14.8bn last year, of which £4.2bn is thought to be hidden and unreported losses from crime such as mass marketing fraud and counterfeit goods.