Financial Fraud Action UK (FFA UK) has revealed that losses incurred due to online banking fraud in 2014 have surged by 48% to £60.4m from £40.9m a year ago.
While telephone banking fraud losses have gone up by 20% to £13.9m in 2014, the agency said.
According to a report, the number of confirmed online banking fraud loss incidents totaled 53,192 with 53% of UK adults using online banking.
Perry Stokes, head of the Dedicated Card and Payment Unit (DCPU), said: "Fraudsters can be very convincing and often target people over the phone. If you receive a phone call out of the blue, never take for granted that the caller is who they say they are, even if they seem to know a lot about you.
"It is also important that you don’t allow criminals access to your computer by neglecting basic precautions. To beat the fraudsters make sure that you have up to date antivirus software to keep one step ahead."