In order to help advance Norton’s understanding of the consumer mindset around online security, we conducted research to analyze the current state of online crime and its impact on consumers. The Norton Cybersecurity Insights Report:
- Uncovers the emotional toll that cybercrime causes.
- Discovers which countries are most vulnerable
- Explores generational differences in experiences and perceptions around online crime.
- Uncovers the emotional side of security.
The Norton Cybersecurity Insights Report surveyed 17,000 adults over the age of 18, that own at least one mobile device across seventeen markets around the world, and the results are staggering. You can download the full report here to see all of the findings, however, we have highlighted a few key findings for businesses here:
- 593,752,900 people have been victims of online crime in the past year.
- Despite seeing many high-profile breaches in the news, many consumers still haven’t taken the actions needed to adequately protect themselves.consumers “always” use a secure password.
- 61% believe identity theft is more likely than ever before.
Why should businesses care about the human impact of online crime?
Americans don’t play the blame game – nearly 8 in 10 believe online security is the shared responsibility of individuals and the companies they do business with.
1. Consumers do not have a lot of trust in how securely businesses keep their information stored:
- Just over half of U.S. consumers (51%) think that storing their credit/banking information in the cloud is riskier than not wearing a seatbelt.
- Nearly 8 in 10 (78%) say it is more likely their credit details will be stolen online or through a retail store’s system than from their wallet.
2. Consumers don’t want to deal with the aftermath of a data breach:
51% of users would rather cancel dinner plans with a best friend than have to deal with canceling their debit or credit card.
46% would rather go on a bad date than have to deal with customer service after a security breach.
31% of people believe the consequences of dealing with a stolen identity are more stressful than sitting next to a screaming child on a plane.
3. Time is money, and losing time can be just as frustrating:
U.S. consumers lost nearly a day (17 hours on average) of their life dealing with the fallout from online crime.
41% of online crime victims report being “furious” after experiencing an online crime.
Because so much business is conducted online—bill payments, shopping, and trading, for example—the inconvenience of dealing with the impact of having financial information compromised can be unneccesarily painful. Cybersecurity is a two-fold process. Customers can only do so much to keep their personally identifiable information protected, and the findings of this report show that users feel that the responsibility also lies in the hands in the companies with the companies with whom they do business.