Canadian Cybercrime Bill for Last Year $3.1 billion

by Istvan Fekete on October 2, 2013

We have previously pointed to the rise of malware in mobile, but what the 2013 Norton Report reveals is absolutely jaw-dropping: cybercrime has directly cost Canadians nearly $3.1 billion over the past year.

And this figure reflects the 42% of online adults who were victims of online malfeasance — meaning malware, phishing, identity theft, etc. — between August 1, 2012, and August 1, 2013. The average cost of cybercrime per person reached $383, an increase of 127% compared to the previous year.

There are a couple factors that helped the rise of cybercrime, and one of them appears to have been a lack of common sense. Users connected to the Internet apparently are not aware of the risks they are taking when using social media, and public or unsecured Wi-Fi. In other words, poor mobile security IQ.

The findings are the result of a 13,022-person survey, which suggests that 32% of Canadian smartphone users and 38% worldwide have experienced mobile cybercrime over the past 12 months. Another 60% of Canadian mobile device owners stated that they weren’t aware that there is a mobile security solution.

“Half the people surveyed sleep within arm’s reach of their phone. It’s become such an extension of what (Canadians) do every day that mindfulness of security is really being limited,” said Lynn Hargrove, director of consumer solutions at Symantec Canada, the parent company of Norton.

Their exposure to cybercriminals isn’t helped by their behaviour: about 42% of Canadians don’t log off after each social media session, and another 28% share their social media passwords with friends, family, or others.

When it comes to public Wi-Fi or unsecured Wi-Fi, it turns out the majority of Canadians use such connections. According to the 2013 Norton Report, 50% of those surveyed use unsecured Wi-Fi to read email, 51% to access social media sites, and 21% shop online. And what’s more alarming is that a quarter of Canadians do online banking using unsecured Wi-Fi.

Are you one of them?

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Written by: Istvan Fekete. www.digitcom.ca. Follow TheTelecomBlog.com by: RSS, Twitter, Facebook, or YouTube.

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