Internet users lose $476 on an average per cyber attack, study finds

Hacking, Cyber attack, Social Risk, Social Threat, Social Attack, Encryption, Mobile Security, DDoS, Cyber Security, Ransomware, Malware, Security, Privacy,

Cyber attacks wreak havoc on companies, businesses and governments around the world, but they have huge implications on common Internet users as well with a new report claiming that cyber attacks cost a user about $476 on an average.

The report by security software company Kaspersky Lab also found that one in ten users end up losing a whopping $5,000 per attack. The company also said that over half (52 per cent) of Internet users who lost money at the hands of cybercriminals have only got some, or none, of their stolen funds back.

While many of the attacks go under reported or unreported completely, estimates peg annual loses due to cyber attacks, online fraud and identity theft in tune of billions of dollars. Loses to users almost directly translate into gains for cyber criminals and thanks to proliferation of Internet across the globe and more and more services going online, these frauds and scams will continue to grow.

“The research reveals how costly these attacks are for Internet users, and how lucrative they’ve become for cybercriminals. On average, Internet users lose $476 per attack and one-in-ten people surveyed said they lost more than $5,000,” it said.

A large majority of respondents said they conduct financial operations online (81 per cent) and just under half (44 per cent) store financial data on their connected devices.

As more users go online to manage their finances, more cybercriminals are looking for opportunities to cash in, making it important for users to have robust Internet security in place to protect themselves and their money.

However, only 60 per cent respondents said they protect all their devices.

Interestingly, almost half (45 per cent) respondents said that they assume they will be reimbursed by banks for financial cybercrime without any problem, but as the survey shows, over half (52 per cent) of people affected have not had all their stolen money returned.

“Cybercriminals are continually looking for new ways to exploit and defraud consumers and that’s why it’s important for Internet users to be on their guard at all times,” Kaspersky Lab Head Anti-Malware Research Team Vyacheslav Zakorzhevsky said.