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Chinese lost US$46 billion to cybercrime last year: Norton report

CHINESE consumers lost US$46 billion last year, almost half of the global losses, to cybercrime including malware attacks and phishing, a US-based the Internet security firm said in Shanghai today.

There has been an increase in cybercrime which takes advantage of booming social networks and mobile technology, according to the annual Norton Cybercrime Report by the US-based Symantec Corporation.

Chinese consumers who like to purchase products or services online are facing hacker programs, fake Websites and unreliable online payment methods every day, according to Taobao.com, the country's biggest e-commerce platform.

An estimated 257 million people in China fell victim to cybercrime last year, suffering financial losses of US$46 billion, followed by Americans with US$21 billion and Europeans with US$16 billion, according to Symantec.

"Though most people have basic anti-virus software installed in their computers, the Chinese still lack awareness of Internet security like password management and personal information protection," said Elaine Chan, Symantec China market development director.

The highest numbers of cybercrime victims were found in Russia (92 percent), China (84 percent) and South Africa (80 percent). Globally, each victim suffered an average loss of US$197, compared with US$178 in China, according to Symantec's survey on some 13,000 people aged 18-64 in 24 countries.

China's Internet population has surpassed 500 million, the largest in the world, and booming social websites like QQ and Weibo, and the popularity of mobile devices have made China the world's biggest mobile Internet market.
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