Total Christmas spend on fake goods to pass £360m, report claims

UK consumers will spend more than £360 million ($551 million) on counterfeit goods online this Christmas, a report has claimed.

Brand protection company NetNames estimated that there will be a 7% increase in the amount spent on fake products during the Christmas holidays compared to last year.

Gary McIlraith, chief executive of NetNames, said: “While many retailers will slash their prices to attract bargain hunters in the run up to Christmas, consumers may be caught out by cyber criminals selling counterfeits at a seemingly attractive price online.

“Consumers must, therefore, remain wary of ‘too-good-to-be-true offers’ for the must-have festive gifts. To avoid falling victim to the latest scams, consumers need to remember that if the price seems too good to be true, it probably is,” he added.

NetNames has advised consumers to assess the authenticity of any website before handing over money. It has recommended consumers use the Whois function to check who has registered a domain.

Furthermore, the report said, consumers should look at reviews of retailers before handing over money for products online.