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9/20/2011 - Cybercrime a growing threat

Cybercrime remains a serious issue for many businesses.

Cybercrime is a growing problem for many businesses in the country and a new study is showing what kind of economic impact it can cause.

According to internet security firm Symantec, the maker of Norton Antivirus software, cybercrime winds up costing businesses $114 billion annually and $274 billion when victims were asked to place a value on productivity losses.

But cybercrime doesn't only disrupt businesses' functions. According to a Norton Cybercrime Report conducted earlier this year, two-thirds of adults who use the internet regularly have been victimized by cyber attackers.

"There is a serious disconnect in how people view the threat of cybercrime," said Adam Palmer, Norton's lead cyber security advisor." Over the past 12 months, three times as many adults surveyed have suffered from online crime versus offline crime, yet less than a third of respondents think they are more likely to become a victim of cybercrime than physical world crime in the next year."

Still, businesses remain a primary target. Selective can help protect businesses if they become victims of cyber attackers with its CyCuritySM coverage. To find out more about CyCuritySM, talk to your Selective agent today.

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