Around 7,000 people across the UK expected to be victims of credit card frauds on Cyber Monday

Roughly £6 million of transactions are likely to be vulnerable to fraud today

If you're planning to do some online shopping on Cyber Monday, don't forget to take extra precautions as cyber crooks are waiting, warn security experts.

Around 7,000 people across the UK are expected to be victims of payment card frauds on Cyber Monday, according to latest estimates by comparethemarket.com, UK's leading price comparison website.

Roughly £6 million of transactions will also be vulnerable to online scams and frauds, the website says.

A recent survey by comparethemarket.com revealed that 21 per cent of the UK adults were forced to cancel or replace their credit card following attempted frauds over the past 12 months. That equates to roughly 11 million adult shoppers defrauded in a year or about 6,330 shoppers per day.

About half of these people said they had their money stolen during those fraud attempts - averaging at £846 per person.

Assuming a spike in online transactions on Cyber Monday, comparethemarket.com estimates that the number of online shoppers that could be victims of credit card fraud on Cyber Monday will be around 7,000.

Taking the average of £846 stolen from each person, comparethemarket.com estimates the total value of credit card fraud on Cyber Monday to be around £6 million across the UK.

"Cyber fraud is a significant issue for consumers and retailers - especially at this time of the year," said John Crossley, Head of Money at comparethemarket.com.

"On Cyber Monday customers should be extra vigilant, especially as our research suggests falling victim to a scam can cost you dearly. It's important not to make yourself vulnerable to hackers. Ensuring you have separate passwords and pins for different accounts or cards and are familiar will some of the tricks fraudsters use will help keep your money secure."

Comparethemarket.com has launched a Cyber Security Challenge to raise shoppers' awareness about common scammers' tricks, including fraudulent websites, phishing emails and scams.

Viewers can complete the Challenge here.