Aussies lost $1.3 billion to cybercrime in 2018 – Norton Lifelock report

Norton LIfeLock
100% human

Got a lazy $1.3 billion? That’s how much Norton LifeLock says Aussies lost to Cybercrime in 2018. Not only that but those 31% of Australians lost 37 million hours trying to recover from the effects of ransomware and cyber-shenanigans.

The 2018 Norton Lifelock Cyber Safety Insights Report (here) Australia is an online survey of 1,002 adults, and the figures are alarming. Of course, they represent ‘extrapolated’ figures to the whole of Australia, but the fact remains – 31% of respondents have been cyber-hoodwinked.

The Norton Lifelock report covers global figures as well as a range of IoT and children’s online safety.

The most common cybercrimes experienced by Australians include:

  • 26% – malicious software on a computer, Wi-Fi network smartphone, tablet, smart home or another connected device.
  • 14% – unauthorised access on online banking or another financial account.
  • 12% – unauthorised access on an email account.

Fortunately, media alerting Australians to online dangers seems to be working

GadgetGuy has a special eSafety category and publishes all it can to keep readers safe.

  • 73% are more alarmed than ever about their privacy.
  • We no longer have an overwhelming sense of trust in providers to manage and protect personal data with
  • 20% trusting government
  • 20% trusting financial services
  • Almost no trust in social media and 17% have #DeleteFaceBook in the past 12 months – that need to be far higher if we want to force change on the insidious social media giant

Australians do want control of their privacy – but as usual, are too lazy to do so

  • 89% want to do more to protect their privacy
  • 69% readily accept risks to their online privacy to make life more convenient

In the pursuit of convenience

  • 15/19% are willing to freely give/sell companies personal information
  • 16/30% would give/sell internet search history
  • 19/32% would give location

Despite increasing awareness of security concerns, only 19% would be willing to pay for a currently free service to protect their information.

Mark Gorrie, Territory Manager and Cyber Security expert – ANZ, Norton by Symantec said,

“Norton LifeLock research shows that each Australian stands to lose hundreds of dollars each year as a result of cybercrime. Over half the population will experience this in their lifetime. Our cybersafety is inherently tied to trust, the transmission, collection, and storage of our personal information has never been greater than it is today. Australians are aware that their data is being collected by websites, social media sites, our apps, and smart home devices. Yet many people don’t understand the value of this information, nor understand who is responsible for keeping it secure and confidential, putting themselves at risk of cybercrime.”

Norton LifeLock recommends

  • Safeguard yourself: To help protect your devices and information from the latest online threats, use a paid, robust multi-platform security solution, such as Norton Security Premium, and update it regularly.
  • Never open suspicious-looking emails: Cybercriminals send fake emails or texts that may look legitimate. The links in these emails or texts contain malicious software that can download malware and spyware. The software may be able to mine your computer for personal information, which is then sent to a remote computer where the attacker could sell the information on the dark web or use the information to commit identity theft.
  • Make use of a VPN on public Wi-Fi: Many public Wi-Fi connections are unencrypted. This could give cybercriminals a chance to snoop on data being sent and received by your device. If there are software vulnerabilities on your device, attackers can inject malware to help them gain access to your data. In some cases, attackers create fake Wi-Fi hotspots purporting to be legitimate networks.
  • Own your online presence: Carefully read the terms and conditions before opening an account or downloading an application, including social media accounts. Be sure to set the privacy and security settings on web services and devices to your comfort level for information sharing.
  • Get two steps ahead and manage your passwords: Switch on two-step verification or multi-factor authentication wherever offered to prevent unauthorised access to your online accounts. Always change the default passwords to something strong and unique on your devices, services, and Wi-Fi networks.
  • Educate your child about online safety: Don’t just tell them to be careful online, show them how. Spend time with your child online and guide them through how to have a positive relationship with technology.
  • Be cautious of over-sharing your child’s life on social media: You are creating your child’s digital identity. Ensure your social media posts positively present your child.
Norton LifeLock
Norton LifeLock