113 million Indians lost an average of Rs16000 to cyber crime: Norton

About 113 million Indians, nearly half of India’s online population was affected by cyber crime, causing an average loss of Rs 16,558 in last one year, a report by software security firm, Nortan says. The global average loss to cyber crime is Rs 23,878.

Cyber crime takes a true emotional toll with nearly half of consumers experiencing cybercrime in India feeling furious after being affected by cybercrime, according to the report by Norton.

“Despite the threat of cybercrime in India, it hasn’t led to widespread adoption of simple protection measures to safeguard information online, with almost one in four Indians sharing passwords as a common practice,” said Ritesh Chopra, country manager, India, Norton by Symantec.

Only 41 percent users said they use a secure password with a combination of at least eight letters, numbers and symbols. Also, many admitted sharing passwords to online sensitive accounts with friends and family.

The report found 60 percent respondents expressing concern about experiencing cyber crime. About 54 per cent agreed to worry about the likelihood of their credit card information being stolen online than from their wallet. Also, 52 percent said they have either personally experienced credit card fraud or know someone who has.

The report also observed the baby boomers (55 years and above), a group often considered less tech savvy, have more secure online behavior compared to the millennials (born between 1980s to early 2000).

“Even though Millennials have been immersed in online technology most of their lives, they are more reckless in many ways with only one in four believing they have most responsibility when an online crime occurs,” Chopra said.

Four in 10 millennials believe that they aren't \"interesting enough\" to be a target of online crime. In reality however, more than seven in 10 millennials in India have experienced cybercrime; with 54 percent of them experiencing it in the last 12 months alone.

Norton’s report reflects data covering 17 countries and 17,125 device users aged above 18 years. Over 1,000 people contributed to the survey from India.