Christmas shopping can be stressful and can leave shoppers vulnerable to credit card fraud.

More than 300,000 shoppers are expected to fall victim to credit card fraud this Christmas – the average person losing £623 – while the number of lost or stolen cards will peak on 18 December, according to research by the life assistance company, CPP.

The hustle and bustle of the high street and the stress involved with finding the perfect present are factors being blamed for people falling victim to fraud.

With 65% of shoppers buying at least half their gifts in person, and around two-fifths buying most of their presents on the high street, many will lose track of their spending. This can leave them vulnerable to fraud, as suspicious transactions could go unnoticed.

Sarah Blaney, card fraud expert at CPP, said: “More and more consumers are aware of the risks when shopping online and are vigilant about keeping their passwords and personal details safe. However, we often get caught up in the hustle and bustle of the high street: a combination of crowds and pressure to find the perfect present can lead to our attention wandering.

“Retail fraud remains a problem despite the introduction of Chip and PIN verification. In the first six months of 2009 it totalled nearly £35 million. However, lost and stolen cards can be used to make illegal purchases online, which is the largest type of card fraud totalling £134m in the first half of the year.”

To avoid becoming a victim of fraud this winter, recommendations from CPP include:

-    Check your receipts against your bank statements when you get home
-    Do not carry multiple debit or credit cards – only carry the essential cards that you need
-    Contact your bank immediately if you fear your cards are lost or stolen

If you are one of the 75% of people who find Christmas shopping stressful, be warned. Dr Glenn Wilson, Visiting Professor of Psychology at Gresham College, said: “Stress affects people in many ways, both physically and psychologically. Heart rate and blood pressure rise, and there is an increase in anxiety, distractibility, confusion and forgetfulness, all of which makes people more likely to lose things, such as their bank cards, and be more at risk of theft.”