Losses due to cybercrime reach US$58.7bn a year

Tuesday, September 20, 2011

Cybercrime generates annual losses of 105bn reais (US$58.7bn) in Brazil, compared to US$388bn on a global scale, local paper Valor Econômico reported, citing a study by US security firm Symantec (Nasdaq: SYMC).

According to the study, "69% of internet users in Brazil said they did not have security software installed on their computers, compared to 41% globally," Adam Palmer, cybersecurity consultant for Symantec's Norton, was quoted as saying by the paper.

In this context, he highlighted the strong penetration of social networks and mobile device growth in the country as some major points of vulnerability.

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In Brazil, 74% of respondents said they had been victims of cyberattacks in the last 12 months, and 9% were victims of attacks through mobile devices - approaching the global rate of 10%.

"There are about 3,000 victims per hour in Brazil, and approximately 77,000 internet users are the targets of such attacks every day in the country," Palmer said.

Among the major threats identified in the country, viruses and malicious programs lead with 68%, followed by the invasion of profiles on social networks (19%) and phishing attacks (11%).