Cybercrime Costs Rise Despite Decline in Number of Cases This Year

Jaycee De Guzman October 2, 2013 0
Cybercrime Costs Rise Despite Decline in Number of Cases This Year


The number of cybercrime cases have declined for this year but it seems like cybercrime costs became higher. According to reports from several agencies, the cost per cybercrime victim significantly increased despite the authorities’ efforts to lessen cybercrimes. The costs cybercrime offenders made from doing different scams and swindles through the internet and other cyber methods have skyrocketed even equal to a nation’s annual budget for governance. This is a strong statement from cyber criminals that they are finding ways to execute their crimes despite the efforts of authorities to reduce them

More Men Cybercrime Victims Than Women, Report Says

Cybercrime Costs Rise Despite Decline in Number of Cases This YearAccording to the 2013 Norton Report, the cybercrime costs that already went to such cases have already totaled to 113 billion US dollars. This value is equal to ten times the actual cost of hosting the recently held 2012 London Olympics. If we are going to compute is average, it turns out that the average cost per victim will be $298. That’s a 50 percent rise from last year’s figures. In addition to that, statistics show that more men are victimized by cyber criminals than women (64 % and 58% respectively). There is an approximate 378 million victims per year which also means that there are more than a million victim everyday by cybercrimes.  Most of the victims are from countries such as China, South Africa and Russia.


New Cybercrimes That Fish More Money Despite Decreased Attacks

According to Symantec, cyber criminals are already finding ways to commit crimes that yield more money but require lesser attacks to prevent authorities from catching them. These attacks include spear-phishing and ransomware cybercrimes. Those cybercrimes are executed mostly on mobile devices such as smartphones, tablets and phablets that have loose security compared to other computers and devices. About 48 percent of the users of these devices don’t even put strong and reliable passwords on their files and devices, use security software and backup their data. Most of the device users are more security-conscious on their personal computers than their mobile phones and tablets primarily because those devices are often not with them compared to these mobile devices. Although these devices are always with their users, these are the most ignored ones when it comes to security solutions.

Some Simple Ways to Protect Data and Prevent Cybercrimes

According to Norton, the best way to protect data in case of device theft is to set hard-to-discern passwords. In addition to that, cloud-based storages must be limited to trusted persons by users. Mobile device users must also invest in security solutions for their phones and tablets in order to provide more protection to their data and prevent spywares and hackers from accessing them. These are simple yet effective ways in protecting content for ordinary device users that are most prone to new cybercrimes.

Are your files already protected? Are your mobile devices prepared for attacks in order not to increase the cybercrime costs this year?

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