India appears to be the ransomware capital of Asia Pacific with 11 per cent victims of this form of virtual extortion

The growing incidents of cyber crimes such as ransomware, identity heft, and phishing have cost the country $4 billion during August, 2012-July, 2013, according to a report released by Internet security solutions provider Symantec on Tuesday.

The average cost per cyber crime victim in India grew 8 per cent to $207 during the period from $192 in the year-ago period, the 2013 Norton report adds.

The report, which is one of the largest global studies investigating the impact of cyber crime on consumers, is based on responses from 13,022 adults across 24 countries, including 1,000 from India.

“Today’s cyber criminals are using more sophisticated attacks such as ransomware and spear-phishing, which yield them more money per attack than ever before. With 66 per cent of Indian consumers using their personal mobile device for work and play, this creates entirely new security risks for enterprises as cyber criminals have the potential to access even more valuable information,” Ritesh Chopra, Country Manager, Norton by Symantec, said.

India appears to be the ransomware capital of Asia Pacific with 11 per cent victims of this form of virtual extortion, the report says, adding in the last 12 months, 56 per cent of cyber crime victims in India have experienced online bullying, online stalking, online hate crime or other forms of online harassment.

This year’s report further reveals that as consumers become more mobile and connected, these conveniences often come at a cost to them and their security.

In fact, a staggering 63 per cent of smartphone users in India have experienced some form of mobile cyber crime in the past 12 months, the report says.

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