Sophos said that the scam works by sending an email that convinces the unsuspecting recipient to sign up for the SecureCode scheme, a system used to increase the security of online credit card transactions.

The email promises discounts on future purchases and a link redirects you to a site that looks very similar to the MasterCard site, where the phishers persuade you to input your credit card information.

"MasterCard has been very successful in positioning SecureCode as the answer to online fraud, and with so many computer users growing increasingly worried about the risks of shopping online, the prospect of greater security and money off can be too much to resist," said Carole Theriault, senior security consultant at Sophos.

"What's more, phishers are putting a lot more effort into their scams these days and to the undiscerning eye, it's almost impossible to tell this isn't the real MasterCard site," she continued.

Theriault warned surfers to take care with links in emails.

"Computer users must be wary of simply clicking on links in unsolicited emails and should take time to verify the site address first - it may take a little longer, but will protect your money and identity from preying cybercriminals in the long run. Also, everyone needs to use a little common sense - if it seems too good to be true, it probably is," she said.

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