Hackers stole $172 billion last year: Consumers should avoid these mistakes

By Personal FinanceFOXBusiness

Cybercrime: An inside look at how hackers are targeting shoppers

FBN’s Hillary Vaughn with an inside look at how hackers are using the dark web to target shoppers.

Online hackers made out like true bandits in 2017, stealing over $172 billion from people in 20 countries around the world, a new report said.

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Norton Cyber Security released its annual insights report and found that 44% of consumers were affected by a cybercrime in the last 12 months with an average victim losing $142.

The most common cybercrime reported was having a device infected by a virus or another security threat, at 53%. Other crimes included debit or credit card fraud (38%), having an account password compromised (34%), encountering unauthorized access to or hacking of an email or social media account (34%) and making a purchase online that turned out to be a scam (33%).

Norton found that typically cybercrime victims share three common traits. Here’s what it found:

1) Overconfidence in Cybersecurity Prowess: Consumers who’ve fallen victim to cybercrime emphasize the importance of online security more than non-victims, yet they’re more likely to contradict their efforts through simple missteps. While 44% of consumers have personally experienced cybercrime, 39% of victims globally report gaining trust in their ability to hold and protect their personal information and data, and 33% believe they’re at a low risk of becoming a cybercrime victim.

2) Favor Multiple Devices: Consumers who adopt the newest technologies and own the most devices are also more likely to be victims of cybercrime. More than one-third (37%) own a gaming console and smart device, compared to 28% of non-victims. They’re also almost twice as likely to own a connected home device as non-victims.

3) Dismiss the Basics They practice new security techniques such as fingerprint ID (44%), facial recognition (13%), pattern matching (22%), personal VPN (16%), voice ID (10%) and two-factor authentication (13%). Yet, 20% of cybercrime victims globally use the same password across all online accounts, and 58% shared at least one device or account password with others. By comparison, only 17% of non-cybercrime victims use the same password across all online accounts, and 37% share their passwords with others.