Symantec: Cybercrime costs $114 billion a year

Norton Cybercrime 2011 $388 bln

Symantec has released its Norton CyberCrime Report for 2011, and if you thought business was good for smartphone and mobile device makers…well, business appears to be good for cybercriminals too. According to Symantec, some 431 million adults worldwide were victims of cybercrime in the last year, with the total cost of those crimes amounting to some $114 billion. And when Symantec figures in the value of the time victims lost to that crime, the cost goes up another $274 billion to $388 billion. If those figures hold water, it potentially makes the the cost of online crime worldwide larger than the global trade in heroin, marijuana, and cocaine combined.

“There is a serious disconnect in how people view the threat of cybercrime,” said Norton lead cybersecurity advisor Adam Palmer, in a statement. “Over the past 12 months, three times as many adults surveyed have suffered from online crime versus offline crime, yet less than a third of respondents think they are more likely to become a victim of cybercrime than physical world crime in the next year.”

According to the report, over two thirds of online adults say they have been a victim of cybercrime in their lifetimes—and Symantec reports that 10 percent of adults say they have been victims of online crime on their mobile phones.

Norton Cybercrime 2011 number of victims

Illustrating the disconnect between users’ awareness of cybercrime and what they do about it, Symantec says that 74 percent of respondents in its survey said they were always aware of cybercrime, but 41 percent of respondents don’t use an up-to-date security package to protect their personal information. The rate is even worse amongst mobile users: Symantec found just 16 percent use up-to-date mobile security products.

Further, Symantec found that less than half its respondents reviewed their credit card statements regularly for fraudulent activity, and a whopping 61 percent either don’t use complex passwords or change them regularly.

Of course, some of Symantec’s assessment of respondents security habits is self-serving: the company develops Norton Antivirus and other security software, and the survey doesn’t say whether it takes into account users on Mac OS X and other platforms that, to date, haven’t experienced anywhere near the level of malware and security threats to which Windows users are subjected, and hence have a far lower real-world need for up-to-date security software.

And who are the most likely victims of cybercrime? According to Symantec, it’s men aged 18 to 31 who access the Internet from their phone.

Symantec’s survey covered over 12,700 adults in 24 countries, and was conducted in February and March 2011.

Product Review

Fascinating Finney phone is crypto in a nutshell: Exciting, but also terrifying

The Sirin Labs Finney phone is to cryptocurrency what the iPhone is to Apple Pay. It facilitates the payment, processing, and exchanging of cryptocurrencies on a smartphone, and surprisingly does it in a user-friendly way.
Movies & TV

The best shows on Netflix right now (February 2019)

Looking for a new show to binge? Lucky for you, we've curated a list of the best shows on Netflix, whether you're a fan of outlandish anime, dramatic period pieces, or shows that leave you questioning what lies beyond.
Gaming

You're never too broke to enjoy the best free-to-play games

Believe it or not, free-to-play games have evolved into engaging, enjoyable experiences. Here are a few of our favorites that you can play right now, including Warframe and the perennially popular League of Legends.
Business

Marriott asking guests for data to see if they were victims of the Starwood hack

Marriott has created an online form to help you find out if your data was stolen in the massive Starwood hack that came to light toward the end of 2018. But take note, it requires you to submit a bunch of personal details.
Computing

Intel expects Apple to transition Macs to ARM processors in 2020, report says

It has been rumored for some time that Apple could transition away from Intel to ARM processors, but a new report now claims that Intel is aware of the decision and that it could happen in 2020.
Computing

Still miss Windows 7? Here's how to make Windows 10 look more like it

There's no simple way of switching on a Windows 7 mode in Windows 10. Instead, you can install third-party software, manually tweak settings, and edit the registry. We provide instructions for using these tweaks and tools.
Computing

The rumors were true. Nvidia’s 1660 Ti GPU, a $280 powerhouse, has arrived

Nvidia has officially launched the GTX 1660 Ti, its next-generation, Turing-based GPU. It promises to deliver all the performance and efficiency for all modern games, but without stepping into the high price range of the RTX series. 
Computing

Dodge the biggest laptop-buying mistakes with these handy tips

Buying a new laptop is exciting, but you need to watch your footing. There are a number of pitfalls you need to avoid and we're here to help. Check out these top-10 laptop buying mistakes and how to avoid them.
Computing

Great PC speakers don't need to break the bank. These are our favorites

Not sure which PC speakers work best with your computer? Here are the best computer speakers on the market, whether you're working with a tight budget or looking to rattle your workstation with top-of-the-line audio components.
Computing

Confused about RSS? Don't be. Here's what it is and how to use it

What is an RSS feed, anyway? This traditional method of following online news is still plenty useful. Let's take a look at what RSS means, and what advantages it has in today's busy world.
Computing

Everything you need to know about routers, modems, combos, and mesh networks

Modem vs. router: what's the difference? We explain their functions so you can better diagnose any issues prior to contacting technical support. We also talk about a few variants you'll see offered by ISPs and retailers.
Computing

Metro Exodus update brings DLSS improvements to Nvidia RTX 20-series PCs

Having issues in Metro Exodus? A February 21 update for the title recently delivered enhancements to Nvidia’s deep learning supersampling feature and other fixes for low-specced PCs. 
Computing

Limited-time sale knocks $500 off the price of the Razer Blade Pro 17

Looking for an ultra-powerful laptop for yourself or someone else? You're in for some luck. Razer is running a sale on some of its best gaming laptops, cutting down pricing on the Razer Blade 15 and the Razer Blade Pro 17. 
Emerging Tech

Engineer turns his old Apple lle into an wheeled robot, and even gives it a sword

How do you give new life to a 30-year-old computer? Software engineer Mike Kohn found a way by transforming his old Apple IIe into a wheeled robot. Check it out in all its 1980s glory.