Mountain View, Calif. – January 22, 2018 – Consumers are confident they're safe online, but hackers have proven otherwise, stealing $172 billion from 978 million consumers in 20 countries in the past year, according to the 2017 Norton Cyber Security Insights Report, released today by Norton by Symantec (NASDAQ: SYMC).
Globally, cybercrime victims share a similar profile: they are everyday consumers who use multiple devices whether at home or on the go, but have a blind spot when it comes to cyber security basics. This group tends to use the same password across multiple accounts or share it with others. Equally concerning, 39 percent of global cybercrime victims despite their experience, gained trust in their ability to protect their data and personal information from future attacks and 33 percent believe they had a low risk1 of becoming a cybercrime victim.
In the United States, 143 million consumers were victims of cybercrime – more than half the U.S. adult online population. Losses totaled $19.4 billion and each victim lost an average of nearly 20 hours (19.8 hours) dealing with the aftermath.
"Consumers' actions revealed a dangerous disconnect: Despite a steady stream of cybercrime sprees reported by media, too many people appear to feel invincible and skip taking even basic precautions to protect themselves," said Fran Rosch, executive vice president, Consumer Business Unit, Symantec. "This disconnect highlights the need for consumer digital safety and the urgency for consumers to get back to basics when it comes to doing their part to prevent cybercrime."
Consumers used device protection technologies such as fingerprint ID, pattern matching and facial recognition, with 45 percent using fingerprint ID, 21 percent using pattern matching, 19 percent using a personal VPN, 14 percent using voice ID, 16 percent using two-factor authentication and 16 percent using facial recognition. However, consumers who adopted these technologies often still practice poor password hygiene and fell victim to cybercrime.
Eighty-one percent of U.S. consumers believe cybercrime should be treated as a criminal act. However, when pressed, contradictions emerged. Nearly one in four believe stealing information online was not as bad as stealing property in 'real life.' When presented with examples of cybercrime, 41 percent of consumers believed it's sometimes acceptable to commit morally questionable online behaviors in certain instances, such as reading someone's emails (28 percent), using a false email or someone else's email to identify their self online (20 percent) and even accessing someone's financial accounts without their permission (18 percent).
Despite this year's cyberattacks, Americans generally continue to trust the institutions that manage their data and personal information. However, they are not as trusting of some institutions and organizations.
To learn more about the real impact of cybercrime and how consumers can protect their digital information, go here for more information.
The Norton Cyber Security Insights Report is an online survey of 21,549 individuals ages 18+ across 20 markets, commissioned by Norton by Symantec and produced by research firm Reputation Leaders. The margin of error for the total sample is +/-.7%. The U.S. sample reflects input from 1,003 U.S. adults ages 18+. The margin of error is +/- 3.1% for the total U.S. sample. Data was collected Oct. 5 – Oct. 24, 2017 by Reputation Leaders.
The definition of cybercrime continues to evolve as avenues open up that allow cybercriminals to target consumers in new ways. Each year, we will evaluate current cybercrime trends and update the report's methodology as needed, to ensure the Norton Cyber Security Insights Report provides an accurate snapshot of the impact of cybercrime as it stands today. In the 2017 Norton Cyber Security Insights Report, a cybercrime is defined as, but not limited to, a number of specific actions, including identity theft, credit card fraud or having your account password compromised. For the purposes of this report, a cybercrime victim is a survey respondent who confirmed one or more of these incidents took place. Visit https://www.symantec.com/about/newsroom/press-kits to learn more.
Symantec Corporation (NASDAQ: SYMC), the world's leading cyber security company, helps organizations, governments and people secure their most important data wherever it lives. Organizations across the world look to Symantec for strategic, integrated solutions to defend against sophisticated attacks across endpoints, cloud and infrastructure. Likewise, a global community of more than 50 million people and families rely on Symantec's Norton and LifeLock product suites to protect their digital lives at home and across their devices. Symantec operates one of the world's largest civilian cyber intelligence networks, allowing it to see and protect against the most advanced threats. For additional information, please visit www.symantec.com or connect with us on Facebook, Twitter, and LinkedIn.