Cloud security company Trend Micro says Malaysians are embracing the web for shopping in increasing numbers.

It released a survey revealing that eight of 10 Malaysian Internet users are shopping online.

Researcher Nielsen has predicted that Malaysia’s online shopping market will hit 5 billion ringgit ($1.5 billion) by 2015.

With online retailing gaining rapid momentum, Trend Micro warns online shoppers to be wary of cyber security and fraud threats.

“The rapid growth of online shopping worldwide together with the immense increase of money changing hands in the cyberspace, especially after the reduction of the Online Interbank GIRO (IBG) to 10 sen, will attract more cyber criminals to target online shoppers,” said Trend Micro SEA region MD Goh Chee Hoh.

“The main risks for online shoppers lie in replying to unsolicited emails spoofed to appear to originate from reputable retailers,” said Hoh.

“Clicking through the links in these could lead unsuspecting users to a phishing site designed to steal their credit card credentials.”

It has surprised Hoh that most Malaysians lack caution when shopping online.

Thirty per cent of the respondents say they are using the same password across different financial accounts while a quarter said they have derived password from easily identifiable personal information like birth date and mobile phone number.

Also, one in five respondents do not worry making financial transaction at work or public wi-fi connection.

Hoh advised shoppers to use payment methods that protect during the checkout process. He is also discouraging shoppers from making their online purchases in public wi-fi hotspot.