Consumer cybercrimes cost India Rs 42,000 crore in 12 months

Consumer cybercrimes cost India Rs 42,000 crore in 12 monthsConsumer cybercrimes cost India a whopping Rs 42,000 crore (nearly $8 billion) over the past twelve months, computer security firm Norton said.

In its 2012 cybercrime report, Norton said that more than 42 million consumers in India fell victim to cybercrimes in the last one year, and suffered nearly US$8 billion in direct financial losses.

In terms of cost, cybercrime against consumers jumped 18 per cent year on year. In other words, the average direct financial cost per victim was $192 in 2012, up 18 per cent over $163 in 2011. When it comes to the whole of the world, consumers lost US$110 billion.

During the past twelve months, around 56 per cent of adults using the Web suffered cybercrime. It means more than 115,000 Indian consumers fell victims of cybercrime per day.

The report said that cybercriminals are now focusing their hacking efforts on increasingly popular platforms, such as social networks or mobile devices.

Indicating towards risks of using insecure mobile platforms and social networks, the report said, "Cybercriminals are changing their tactics to target fast growing mobile platforms and social networks where consumers are less aware of security risks."

The report also estimated that around 66 per cent of online adults In India have been a victim of cybercrime in their lifetime.