How much does cybercrime actually cost?

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As many regular web users are aware, there usually seems to be the odd threat lurking around the corner. When you’re visiting one of your favourite website, you might wonder if what you’re doing is entirely safe. In recent years, cybercrime has become a huge problem for individual users and businesses, both of whom can be pretty lucrative for criminals to exploit.

Through insecure websites, browser flaws or any holes in individual machines or networks, cybercriminals are able to get what they want. As proof of how big it has become, in the UK alone, it has gone up by 26% in 2013. That statistic alone is enough to prove how serious it has become, leaving companies, non-profit groups and individuals fearing for their money.

Taking action

To try and tackle the growing threat posed by cybercrime, the UK’s National Cybercrime Unit was launched by the government earlier this month. Upon their foundation, they revealed that for every £1 invested in trying to beat cybercrime for good, the UK economy saves £58. This proves that beating cybercrime is worth every penny.

When businesses get targeted by cybercriminals, it can be extremely costly. The recent example of how banking giant Barclays lost £1.3m from cyber theft is one of the most notable examples of how difficult it is for the biggest companies on the planet to guard themselves from the threat of having their security breached.

Protect yourself

Cybercriminals are more likely to target individuals using a variety of methods. The example of Michelle, who found that her laptop was infected by malware after noticing it getting slower and slower, received yet another nasty shock. After seeing a pop-up ad telling her she won a prize, she entered her credit card details and was charged, but never got what she wanted.

To avoid falling into the same trap as Michelle, there are a few things you could do to become immune from the threat of being affected by cybercrime. They include:

  • Keeping aware of the latest developments in tackling it. This will help you to know what to look out for.
  • Using the Cybercrime Index from Norton. It’s free to use while also offered plenty of useful advice on how to be safe online.
  • Take the cybercrime quiz – this will help you to know what to do and what to avoid when faced with a serious threat from a pop-up ad or something similarly malicious.

At HighDefGeek we love to blog about the latest trends in Technology and Business News from around the world. We are a small team of geeks who love to discover and review the latest gadgets and share our thoughts directly to you as well as keeping on top of stocks and shares and giving our advice on the next big thing.

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