India Suffers, Loses Close To $8 Billion In Cybercrimes: Norton Cyber Crime Report

According to the Norton Cyber Crime Report, India suffered losses in tunes of $8 Billion in 2011 due to cyber crimes. The global loss figure was piped to be at $110 Billion for the same period. The report says that globally over 1,15,000 people are subjected to cyber crimes daily; this roughly translates to around 80 cases of cyber crime/minute. We break down the statistics put forth by the report below.

Statistics (pertaining to India alone):

  1. Indians fallen prey to cyber crimes: 66%
  2. Indian adults that were victims of cyber crimes in 2011 alone: 32%
  3. Social media users that were subjected to cyber crimes: 22%
  4. Users subjected to cyber crimes via fraudulent links: 15%
  5. Users aware about cyber crimes and how to stay clear of them: 56%

From the above figures  it is clear that even though a majority of people know about cyber crimes and how to stay clear of such traps, a much larger number still do fall prey to such crimes.

Earlier, it was relatively easy to spot malware and viruses as after an attack the laptop/computer almost immediately would work slowly and/or crash. However, cyber criminals are getting smarter and so are the viruses. Viruses and malwares can now stay undetected for long in the computer and create as much havoc as possible. While individual accounts are falling prey to cyber crimes, company + government websites are not safe either. Only yesterday we reported about the Domino’s India website getting hacked. Joining this long train of unsafe online websites/individual accounts are the SMEs who are equally vulnerable to hackers/cyber criminals. A Symantec’s report recently explained how SMEs are unarmed in the face of such attacks.

Given the massive amounts of money being lost due to intensive, pervasive and sophisticated cyber crimes, I think the government should focus on how to tackle this threat than shut Twitter accounts and make baseless statements. What do you think?

Image Courtesy | europol.easyred

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2 Responses to “India Suffers, Loses Close To $8 Billion In Cybercrimes: Norton Cyber Crime Report”

  1. thenub
    September 12, 2012 at 4:49 pm #

    Most of the crimes happen because people are just too damn greedy for easy money. They need to realise that if it sounds too good to be true, it usually is.

  2. September 13, 2012 at 1:02 pm #

    Hi – the article here wrongly mentions world losses at 10Billion- whereas in the original article the losses are 110 billion for the world.

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