Symantec says cybercrime cost consumers $110 billion last year

By on September 6, 2012, 6:30 PM

New research shows more than 71 million Americans became victims of cybercrime over the past 12 months. Symantec’s 2012 Cybercrime Report further highlights the fact that US consumers lost nearly $21 billion as a result of malware, viruses, hacking, scams, fraud or theft, second only to China’s $46 billion loss.

Two out of every three adults online have been victims of cybercrime in their lifetime; 46 percent reported they were targeted in the past year. On a global scale, cybercrime cost consumers a whopping $110 billion with each victim out roughly $197.

Cyber criminals are keeping with the times, moving away from traditional desktop PCs and targeting mobile users. For example, 31 percent of respondents said they’ve received a text message from someone they didn’t know asking them to click an embedded link or dial a number to retrieve a voicemail.

Furthermore, more than a third of adults have lost or had their mobile phone stolen and 66 percent of people don’t have a security solution for their mobile device. Nearly half of those polled weren’t even aware that security solutions for mobile devices even existed.

Four out of 10 people say they have fallen victim to cybercrime on social networking platforms. One in six people say their social network account has been hacked and 10 percent say they have fallen for a scam or clicked a fake link on a social networking site.

Data for Symantec’s report was collected from over 13,000 online adults spanning 24 different countries.

User Comments: 7

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Raswan Raswan said:

Let's play a game where we list the top ten reasons a company would fund a study that ended up returning massive losses to US consumers because of cyber crime...

LinkedKube LinkedKube, TechSpot Project Baby, said:

I think that number is extremely conservative. Press announcement for a company that's struggling. GG symantec, GG.....

DanUK DanUK said:

We all know this is a big problem but some of those numbers seem REALLY high. I guess it depends what you consider a "victim".

avoidz avoidz said:

Hmm, sounds like a compelling reason to bring in more warrantless survelliance and give up even more of our freedoms and privacy to me...

Zoltan Head said:

Hmm, sounds like a compelling reason to bring in more warrantless survelliance and give up even more of our freedoms and privacy to me...

Good idea, I'll second that!

Mark Fuller said:

Just goes to show you that newer technology needs to be developed to combat cybercrime.

Tygerstrike said:

How much of that crime that is reported is actual crimes and not user errors? I.E. Grandma and Grampa not being as internet savvy as others clicks a link in a email. Or Mom and Dad try and buy something online and end up with identity theft. How much of that reported is actual active criminal activity.

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