Global economy looses £242 billion a year to cyber crime
A new report by security firm, Norton claims that the global economy looses £242 billion to cyber crimes in a year.
The Norton Cybercrime report says that more than one million internet users fall victim to cyber criminals every day. Adam Palmer, lead advisor at Norton Cybersecurity Institute pointed out that the figure of £242 billion is more than the entire global trade in cocaine, heroin and marijuana, which is worth £180bn.
Last year, cyber crime costs China £16.1 billion, Brazil £9.5 billion and India £2.5 billion. Most common types of cyber crime targeting users are computer viruses and malware, followed by online scams and phishing.
The research estimates that there are 431 million cybercrime victims a year around the globe.
