Aussies' 'Vulnerability' Over Social Media Taps Over $1B In Damages

Recent reports on the involvement of Australians in cybercrime have revealed some shocking truths about their vulnerability over social media. Many cyber criminals have targeted their computers and phones causing damages amounting to $1 billion.

A huge number of Australians have been trapped into cybercrimes for the past year based on the recently conducted global cybercrime survey.

Symantec has released its annual Nortan Report which reported the shocking truths about social media cybercrimes, showing there is lack of security awareness in mobile device usage.

Norton Report 2013

The report disclosed in the past year cybercrime cost a humungous amount of $1 billion to Australians. This amount has declined from $1.65 billion in 2012 to $1 billion this year.

The average cost per victim has also seen some reduction shifting from $300 to $200.

Brenton Smith, Symantec's director of Pacific region, cited this decline was a result of the chnaging tactics of the cybercriminals. "Cyber criminals also use tactics where there is a lower cost per head to victims, as they believe scams like these have a higher chance of escaping notice," Smith said.

He added the number of victims remains the same although the cost has come down while the criminals still continue to pry on innocent Australians.

Also, the report revealed that people are unaware of security solutions for the mobile devices. The cases of cybercrime for smartphone users have also increased.

The survey noted about 57% of Australians are unaware of the need to secure their mobile devices. In the past 12 months, about 32% of Australian population have experienced cybercrime. Some 21% of them admitted to have lost or stolen their mobile devices.

It was also found that approximately 50 percent of the Australians are using their personal devices at work and play. About 55 percent assume that online files storage is safe.

"While adoption of mobile devices is high, willingness to take precautions against threats is low," the director stressed.