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9/24/2012 - Cyber crime on the rise

Cyber crimes have increased.

A new study may be the most revealing one yet in detailing just how pervasive cyber crime has become.

According to its annual Cyber Crime Report, information technology security firm Norton indicates that 18 adults are victimized by cyber crime every second, or what translates to more than 500,000 people per day. This results in about $200 lost per victim in direct financial costs.

Yet despite its prevalence, less than half of U.S. consumers - 44% - use some type of internet security program.

Norton internet security advocate Marian Merritt indicated that security solutions have never been more important than they are today.

"Cybercriminals are changing their tactics to target fast-growing mobile platforms and social networks where consumers are less aware of security risks," said Merritt.

Business owners have been similarly impacted by cyber crime. Selective can help protect businesses if they become victims of cyber attacks with its CyCurity® coverage, which can help protect against financial loss resulting from errors in use of computers, the internet, and other electronic networks to communicate and transact business. To find out more about CyCurity®, talk to your Selective agent today.

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