Online Crime Affecting Millions -According to Norton Cyber Security Report
With everything going online, there is no doubt that there has been has upsurge in the cyber crime across the world. The recent Norton Cyber security Insights Report says that affected Indians have lost an average of 30 hours dealing with the impact of online crime. According to the report 113 million Indians have lost an average of INR 16000 dealing with the fallout of cybercrime. Millennial Indians are at higher risk, with more than one in two users personally experiencing a form of online crime in the last 12 months alone.
The Norton Cyber security Insights Report is an online survey of 17,125 device users ages 18+ across 17 markets, commissioned by Norton by Symantec and produced by research firm Edelman Berland. The margin of error for the total sample is +/-0.75%. The India sample reflects input from 1,000 India device users ages 18+. The margin of error is +/- 3.1% for the total India sample. Data was collected during August – September, 2015.
The report found that 60% of people worry about experiencing cybercrime. Interestingly, 54% of Indians believe it’s more likely their credit card information will be stolen online than from their wallet and one in two (52%) Indians have either personally experienced credit card fraud or know someone who has. Further, two in three Indian (66 %) consumers believe using public Wi-Fi is riskier than using a public restroom. Eight in 10 (80 %) say that it is riskier to share their email password with a friend than their car for a day. Close to two in three (64 %) think storing their credit card and banking information in the cloud is riskier than not wearing a seatbelt.
“Our findings reveal that consumer reservations are indeed grounded in reality. In the past year, 48 percent of India’s online population or approximately 113 million Indians were affected by online crime. Despite the threat of cybercrime in India, it hasn’t led to widespread adoption of simple protection measures to safeguard information online, with almost one in four Indians sharing passwords as a common practice” said Ritesh Chopra, Country Manager, India, Norton by Symantec.
Indian consumers affected by cyber crime lost on average 29.6 hours compared to an average of 21 hours across the 17 countries surveyed. On the other hand, an Indian lost an average of INR 16,558 compared to the global average of INR 23,878 (USD 358). On top of this loss, cybercrime takes a true emotional toll with nearly half of consumers experiencing cybercrime in India feeling furious after being affected by cybercrime. Close to eight in 10 respondents said they’d feel devastated if their personal financial information was compromised.
Despite the concern and awareness towards cyber crime, and only one in three Indians feeling complete control of their online security, consumers are overconfident of their online security behaviors. Of those using passwords, less than half (41 %) always use a secure password – a combination of at least eight letters, numbers and symbols. Worryingly, over one in three do not have a password on their smartphone or desktop. People are sharing passwords to online sensitive accounts with friends and family. Of those sharing passwords, more than one in three share the password to their banking account, and on an average they are sharing passwords for two accounts, with the most common passwords shared being email (60 %), and social media (54 %).