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2018 Press Releases

January 24, 2018

Consumers’ Overconfidence Helps Hackers Up the Ante and Steal $172 Billion in 2017

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.
 
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 risk 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.”