People throughout the country are not aware of the threats posed to their financial security, new research shows.

A study commissioned by money.co.uk shows more than nine million people are unable to identify a fake email used by cyber-criminals to steal banking details, despite it costing the UK £52.5 million last year.

"The reality is that, whilst banks do email their customers from time to time, they rarely ask for a response, and never ask customers to reveal personal information or security details," suggested Chris Morling, manager director of the website.

He added that people are right to be concerned about the safety of their personal banking, although they should be equally as aware of the fraudulent activity surrounding it.

The figures also show 9.1 per cent of people would act on any request for banking details, while 26 per cent would open an email warning about an urgent online banking issue.

Emma Soames, editor-at-large of Saga Magazine, recently suggested that people over the age of 65 are likely to be most at risk of fraudulent activity during the recession.