$177m lost to cybercrime


One million New Zealanders were affected by cybercrime last year, losing more than $177 million combined, a global survey has found.
The 2017 Norton cyber security insights report by software maker Symantec surveyed 21,549 people in 20 countries, leading it to estimate almost a billion people were affected by cybercrime across the world.
Most New Zealand victims were millennials, who used many phones, computers and other devices to connect to the internet and typically used the same password across several accounts or shared it with others, the report’s authors said.
“Despite a steady stream of cybercrime sprees reported by media, too many people appear to feel invincible and skip taking even basic precautions to protect themselves,” Symantec’s Mark Gorrie said.
The crimes were also difficult to prosecute with at least 82% of people reporting they did not recover money stolen from them by a cybercrime, the report found.
The authors said one of the main failings of cybersecurity in New Zealand was password sharing with 51% of people giving their password away for at least one of their accounts.
While those aged between 20 and 40 might be expected to be among the most technologically savvy, they often did not take steps to protect themselves.
“Despite the availability of device pro-tection technologies such as fingerprint ID, pattern matching and facial recognition, nearly half of millennials (49%) don’t have any security measures on their devices,” they said. NZN

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