431 million adult victims globally in the past year
Cybercrime costs the world $114bn annually, and costs additional $274bn due to time lost due to victims’ cybercrime experiences, according to the Norton Cybercrime Report 2011.
With 431 million adult victims globally in the past year and at an annual price of $388bn globally based on financial losses and time lost, cybercrime costs the world significantly more than the global black market in marijuana, cocaine and heroin combined to $288bn, the report said.
More than two thirds of online adults (69%) have been a victim of cybercrime in their lifetime, while every second 14 adults become a victim of cybercrime, resulting in more than one million cybercrime victims every day.
The report revealed that 10% of adults online have experienced cybercrime on their mobile phone.
According to the Symantec Internet Security Threat Report Volume 16, there were 42% more mobile vulnerabilities in 2010 compared to 2009.
The number of reported new mobile operating system vulnerabilities increased from 115 in 2009 to 163 in 2010.
Increased social networking and a lack of protection are likely to be some of the main culprits behind the growing number of cybercrime victims.
While 74% of respondents say they are always aware of cybercrime, many are not taking the necessary precautions.
Forty-one percent of adults indicated they don’t have an up to date security software suite to protect their personal information online.