Today is Cyber Monday - one of the busiest online shopping days of the year.

Technology company EMC Ireland expects Irish consumers will spend more than €22m today - representing an increase of 17% on last year.

Meanwhile, Retail Ireland is predicting its sector will have the best Christmas period in five years.

It estimates over €3.9bn will be spent in shops in December, up 2% on last year. It is being attributed to the rise in employment figures and disposable income.

Jason Ward is UK North and Ireland director at EMC Ireland. He says the allure of cheaper Christmas shopping can lower our guard to cybercrime.

"While paying for goods and services via trusted websites is generally very safe, there are still criminals seeking to take advantage of consumers' willingness to spend, and defraud them of their financial information," he said.

"Online shoppers should carefully inspect each website for signs of fraud: a suspicious URL or lack of secure encryption at the payment processing screen—often represented by a padlock or shield icon in your address bar—are red flags that the site is not safe and is a potential scam. Trust your instinct and go elsewhere if you are not convinced," he added.

Smartphone and tablet users are also being reminded to take equal care and only to download apps from trusted, well-reviewed developers, in case they install malicious software.

One in five to shop in work

Meanwhile research suggests that Irish shoppers will spend big this Christmas. Online retailer eBay says the number of Christmas gifts that Irish consumers will purchase this year is up by 31% in comparison to 2013.

A typical Irish shopper buys 22 Christmas presents spending an average of €266 on gifts. In addition to the presents, Irish people surveyed spend on average of an extra €270 on other Christmas related items - such as decorations, cards and food.

It also found that one in five Irish people will use their smartphones this year to do their Christmas shopping at work.

Director of Retail Ireland is Thomas Burke. He says we are also in for a cheaper Christmas.