Cyber crime in India : 42 million Indians hit by cyber attack, $8Bn loss [Report]

India suffered loss of nearly $8 billion because of cyber crime in 2011 while the global loss is estimated at $110 billion, according to the Norton Cyber Crime Report 2012.  Importantly, this year India’s loss escalated by whopping 100 % whereas at global level it saw marginal dip. Earlier, in its 2011 report, Norton revealed about $ 4 billion were lost due to cyber crime in India and $ 114 billion worldwide.

The report mentions that 42 million Indians have fallen prey to cyber attacks in 2011, again a significant rise of approximately 12 million from previous year report by Norton. And about 66 % of internet connected Indian adults have been victims of cybercrime in their lifetime.

During 2011, 32 % of social network users among the Indian respondents (1000 respondents from India) have been victim of either social or mobile cybercrime. Importantly 22 % of all social network users have been attacked in some way with 15 % falling prey to links of scams and fake links served via social media platforms. Globally, 1 out of every 6 social media users (15%) have reported about their accounts have been hacked into.

Cyber crime in India : $8Bn loss
Cyber crime in India : $8Bn loss

As per report, across the world, every second, 18 adults become a victim of cybercrime , resulting in more than 1.5 million cybercrime victims each day. The average daily financial cost per victim is $192, up by 18 % over 2011 from $163 last year.

Rising appetite and usage of internet via mobile devices, free mobile apps and social media platforms point out an increase in new forms cybercrime, compared to last year report (Also read: Free apps will account 89 % of total downloads). Now, cybercriminals are starting to focus their efforts on exploiting these increasingly popular mobile and social platforms.

Globally, highest numbers of cybercrime victims were found in Russia (92%), followed by China (84 %) and South Africa (80%). The report also mentions low security IQ over internet security and consumers don’t know how to protect themselves from potential risks. 55 % respondents were not sure about whether their computer is clean and free from viruses, additionally 3 out of every 10 internet adult users don’t understand the risk of cybercrime and how to protect them.

The report also reveals that most internet users go for basic solutions to protect themselves and their personal information – i.e. deleting suspicious emails and being careful with their personal details online. However, other core precautions are being compromised; for instance 40 % don’t use complex passwords or change their passwords frequently and more than 30 % users don’t check for the padlock symbol in the browser before entering sensitive personal information like banking details over internet.

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