Till the time, it was calculated that fraudsters are very active online but it was not estimated that it can cost so high.

The security solution provider Symantec indicated that online frauds have costed the victims to the tune of $5 billion. Credit card numbers were the most popular item on sale and made up 31% of all the goods on offer.

Coming in second were bank details which made up 20% of the items being offered on criminal chat channels.

The $5.3bn figure was reached by multiplying the average amount of fraud perpetrated on a stolen card, $350 (£234), by the many millions Symantec observed being offered for sale.