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Digital Identity, Security & Online Fraud

Cybercrime makes 1.5 million victims per day

Monday 10 September 2012 | 10:46 AM CET

More than 1.5 million people worldwide are daily affected by online crime, a new report points out.

According to the new Norton Cybercrime Report, the total cost of cybercrime on consumers reaches USD 110 billion per year and two in every three internet users have become victims of online fraud in their lifetime. Globally, each victim accounted for an average of USD 197 in financial loss. In the US, the figure reaches USD 290.

The same source mentions that, on a wider scale, more than 50 percent of adults have experienced malware, viruses, scams, hacking, theft or fraud. The highest numbers of cybercrime victims have been registered in Russia (92 percent), China (84 percent) and South Africa (80 percent).

The findings also indicate that the threat from cybercriminals increases as more people use smartphones to access the internet. Initially threats associated with use of mobile devices were minimal but now two in every three people are using their phone device to access the internet and this has led to the number of mobile-based threats increasing by more than 200 percent since 2010.

Results show that social networks are also important targets for cybercriminals, with 4 out of 10 users stating they have been the victim of some kind of platform hack. According to the report, two-thirds of people have not set up any kind of security system on their mobile device, making it easy for hackers to get in.

Moreover, the Norton report reveals that 44 percent of people aren’t even aware that security solutions exist for their mobile devices. Two in three mobile device users declared they regularly use free or unsecure Wi-Fi networks to get online but just 53 percent of that number are concerned about the risks involved.

With regard to mobile usage, 67 percent use their phone to access their personal email, 63 percent log on to social networks, 31 percent shop online and 24 percent log into their bank accounts.

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