Phishing Phishing is the name given to emails that claim to be from your bank but are actually sent to you by fraudsters.
These emails typically urge you to click on a link that takes you to a fake website identical to the one you would expect to see.
You are then asked to verify or update your personal security information but, by doing so, you are actually giving your information to the fraudster who has created the fake website.
The fraudster then uses the details to access your online bank account and take your money.
"Although online banking fraud losses fell last year the fraudsters clearly aren't giving up," said Sandra Quinn, director of communications at APACS (the UK payments association).
"Phishing scams are continuing to rise and they are becoming ever more sophisticated, which is why we want to remind people to remain wise to them.
"The advice is quite simple: just remember that your bank will never send you emails asking you to disclose PIN numbers, login details or complete passwords - if you receive an email of this nature you should delete it. If you think your details have been compromised you should contact your bank immediately."
Although online banking fraud losses decreased by a third from £33.5 million in 2006 to £22.6m in 2007 the fraudsters are still having some success in duping customers with phishing emails.
But APACS research shows that while the number of people either deleting or ignoring a phishing email has increased from 75 per cent in 2006 to 82 per cent last year, there are still nearly one in five people who don't follow these common sense precautions.
And almost one in three people do not have any anti-spyware software on their computer.
Quinn said: "Always access your internet bank account by typing your bank's address into your web browser and ensure that there is a locked padlock or unbroken key in the bottom right of your browser window when accessing your bank's website.
"The beginning of the bank's internet address will also change from 'http' to 'https' when a secure connection is made."
Take extra care when using an internet cafe or public computer for online banking.
Further help and advice about phishing and preventing online banking fraud is available at www.banksafeonline.org.uk
Phishing emails can be reported to APACS at reports@banksafeonline.org.uk
* Holly Thomas is an award-winning financial journalist and Deputy Personal Finance Editor at the Daily Express and Sunday Express. Holly's views represent her own opinions and are for general information only. Always seek independent financial advice.