Cybercriminals Stole $172 billion in 2017

According to a new report titled 2017 Norton Cyber Security Insights, as many as 978 million people in 20 countries lost money to cybercrime last year. Here are some of the report’s key findings:cybercrimals stole more than $172 billion in 2017

The individual impact: Norton says that victims lost an average of $142 to hackers in 2017, and that each victim spent almost 24 hours dealing with the fallout.

The big threats: The leading technique used to extort money from consumers was malware—including things like ransomware and cryptojacking. But fraud and password loss were also big hitters.

How the US was hit: The report claims that 143 million Americans were affected by cybercrime in 2017, losing a total of $19.4 billion.

Why it matters: Norton says that people are overconfident about their own cybersecurity chops. It’s a reminder that we should all be more vigilant online.

Global Impacts

The figures below in billions (USD), represent the impact of cybercrime globally.

Australia Brazil Canada China France Germany Hong Kong India Indonesia Italy Japan Mexico Netherlands New Zealand Singapore Spain Sweeden UAE UK USA
$1.9 $22.5 $1.5 $66.3 $7.1 $2.6 $0.1 $18.5 $3.2 $4.1 $2.1 $7.7 $1.6 $0.1 $0.4 $2.1 $3.9 $1.1 $6.0 $19.4

Passwords: Proper password hygiene will go a long way. It all starts with basic security measures such as creating the perfect password:

  • Don’t use publicly available information in your password (it makes it easier for the bad guys to guess)
  • Use a phrase that consists of a string of words that are easy to memorize but hard for anyone else to crack. The longer your password, the better it is.
  • When possible, enable two-factor authentication for an additional layer of security.
  • Once you’ve created a strong password, stick with it until you’re notified of a security breach. You can also use a password manager to help!

Public Wi-Fi: Everything you do on a website or app while on unprotected public Wi-Fi could potentially be exposed. Avoid anything that involves sharing your personal information (paying a bill online, logging in to social media accounts, paying for anything with a credit card, etc.). If it can’t be avoided, consider using a Virtual Private Network (VPN) to secure your connection and help keep your information private.

At Home: Change the default password when connecting a new device to your network, such as a router or smart appliance. Also, protect your wireless connections with strong Wi-Fi encryption so no one can easily view the data traveling between your devices.

Avoid Phishing: Carefully monitor your email and think twice before opening unsolicited messages or attachments, or clicking on random links, especially from unfamiliar senders. The message may appear to be from a friend or family member, however, it could be from a cybercriminal who has compromised your friend or family member’s email or social media accounts.

Online: When you’re online, protect all your devices with a robust, multi-platform security software solution to help protect against the latest threats.[two_third]Want to learn more?Are you concerned about your network security? Our multi-layered cyber security tools not only protect you from attacks, they also keep your employees safe from phishing, email-borne viruses, dangerous websites, and minimize bandwidth-hungry applications. Give us a call, or shoot us an email if you’d like to learn more.

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