08 Sep '11, 8am

According to a study, cyber crime surpasses the combined black market in marijuana, cocaine and heroin

LONDON - According to new figures released by Symantec, the maker of Norton computer security software, on Wednesday, over half of the population in the United Kingdom has fallen prey to cyber crime in the last year. The Norton Cyber Crime 2011 survey said the number translates to 19 victims hit every minute, and estimates the cost of global cyber crime to be at US114 billion (S$137.6 billion) annually. The estimated cost was determined by taking the number of victims in each of the 24 countries polled and multiplying it by the average financial cost of cyber crime per nation. Norton is not the only study to note the increase in cyber crime. An HP survey released last month also pointed to a marked increase in cyber crime. It said the average cost of cyber crime on companies rose 56 per cent over the last year. Norton's lead cyber security advisor Adam Palmer said: "The re...

Full article: http://www.todayonline.com/TechandDigital/Digital/EDC1109...

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