Cybercrime claims 1 million victims a day
In the US alone, more than 74 million people were victims of some form of cybercrime last year, leading to $32 billion in direct financial losses.
Americans have gotten all too familiar with cybercrime during the past year, following large-scale data breaches at Citibank, Sony and Epsilon, but the problem may still be worse than you think.
According to a report from antivirus software manufacturer Norton, global cybercrime has claimed 431 million adult victims in the past year, costing countries $114 billion in direct financial losses. That figure jumps to $388 billion when you factor in the value that victims place on the time they spent recouping the losses.
Last year, in the U.S. specifically, more than 74 million people were victims of some form of cybercrime, leading to $32 billion in direct financial losses.
After extrapolating survey results, Norton found that every second, 14 adults worldwide are victimized by online fraudsters, which is more than 1 million people every day. Post continues after video.
Examples of cybercrime include emailed viruses and malware (still the most prevalent offense with 54% of respondents saying they have experienced this type of fraud), online scams (11%) and phising messages (10%), which attempt to obtain personal information through deceptive links in emails. The figures are based on surveys of 19,636 people in 24 countries.
Norton says those types of online scams have become more prevalent partially due to growing popularity of smartphones, which offer another digital platform for fraudsters to exploit.
The company cites in its report that, when looking at global estimates, cybercrime costs world governments more than the marijuana, cocaine and heroin black markets combined. Based on stats from the United Nations Office on Drugs and Crime, those illicit trades cost $141.1 billion, $85 billion and $61 billion, respectively, for a total of $288 billion.
We did some digging and found that cybercrime losses more than surpass some countries' entire GDP, such as Iceland ($11.82 billion), Malta ($10.41 billion) and Barbados ($6.23 billion). It also dwarves productivity losses due to insomnia ($63.2 billion), long-term care obligations ($33.6 billion) and March Madness ($1.8 billion), though having that money back would do little to solve the country's astronomical debt problem.
More on MainStreet and MSN Money:
That is nothing compared to the crime Mortgage companies, insurance companies, Banks or Big Pharmacy is handing down in terms of fraud and corruption. Crime has become the way of business and with no consequences...
You tell me who the criminals are...
Forging documents is a class D Felony.
Every single Illegal Immigrant that has a fake Social Security card and I.D. to get a job, is guilty of a Felony.
So where is all the prosecution ?
Our Government has been asleep at the wheel for a long time. Electing to only enforce certain laws is ludicrous.
Well exactly whose fake social security cards do you think the illegal immigrants are using?
How are they going to protect us from cyber crime when they won't enforce laws already
on the books and they know where they are coming from?
The goverment has elected a new people and it ain't YOU!!!
I'm rolling my eyes. How often do people continue to trust everything they read online? If they get an email from a stranger, do they trust that email? .
So IMO, people should be vigilant on the Net, and most importantly, get good antivirus software, etc. There's no guarentees you will be 100% safe, but it is better than nothing.
ANYONE, that would ost ANY information on line, that has the potential of hurting them, has to be OUT OF THEIR MIND!
Come on folks, it's not like we're just beggining in the "CyberWorld", this has been going on now for atleast 20 years, CAN YOU NOT READ OR HEAR?
Fraud is not only unknown emails. Sometimes they are sites that appear to be valid. It is simple to change your computer security setting. People like to click on "free" notification sites...don't trust any of these.
Common sense made the endangered species list.
It's a known fact this virus has infiltrated the government.
They don't know how to empty the bit bucket.
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.