80 Percent of U.S. Consumers Concerned They Will Experience Online Crime

Norton Cybersecurity Insights Report finds almost twice as many consumers
around the world think it is more likely their credit card information
will be stolen online than from their wallets

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Norton by Symantec (NASDAQ:SYMC), today released its findings from the
Norton Cybersecurity Insights Report, which sheds light on the truths of
online crime and the personal effect it has on consumers.

The report found that globally 62 percent of consumers believe it’s more
likely their credit card information will be stolen online compared to
only 38 percent who think it’s more likely they will lose credit card
information from their wallets. Additionally, 47 percent reported they
have been affected by cybercrime. In the U.S.:

  • Seven in 10 Americans believe using public Wi-Fi is riskier than using
    a public restroom
  • Just over half of consumers think that storing their credit card and
    banking information in the cloud is riskier than not wearing a seatbelt
  • More than half of parents believe online bullying is more likely than
    physical bullying at school

“Consumer confidence was rocked in 2014 by an unprecedented number of
mega breaches that exposed the identities of millions of people who were
simply making routine purchases from well-known retailers,” said Fran
Rosch, executive vice president, Norton by Symantec. “Our findings
demonstrate the headlines rattled people’s trust in mobile and online
activity, but the threat of cybercrime hasn’t led to widespread adoption
of simple protection measures people should take to safeguard their
devices and information online.”

Who tops the list of those most aware of online security practices in
the U.S.? Baby Boomers – a group often considered less tech-savvy –
report more secure online habits than Millennials. While Millennials,
born in the digital era, often throw caution to the wind with 36 percent
admitting to sharing passwords and other risky online behavior.

Consumers Frustrated With Cybercrime

Across the 17 countries surveyed, consumers lost an average of 21 hours
over the past year dealing with the fallout of online crime and nearly
$358 per person – totaling roughly $150B. On top of this loss,
cybercrime takes a true emotional toll with nearly half of consumers
experiencing cybercrime in the U.S. feeling furious after being affected
by cybercrime. Further, in the US:

  • Nearly nine in 10 respondents said they’d feel devastated if their
    personal financial information was compromised
  • Seven in 10 consumers would rather cancel dinner plans with a best
    friend than have to cancel their debit or credit card due to cybercrime
  • Sixty-three percent would rather go on a bad date than have to deal
    with customer service after a security breach

Overconfident, But Underprepared

Despite concern and awareness of cybercrime, consumers are overconfident
in their online security behaviors. When asked to grade their security
practices, they consistently award themselves a solid “A.” But in
reality, most are not passing the most basic requirement of online
security: password use. In the U.S.:

  • Of those using passwords, less than half always use a secure password
    – a combination of at least eight letters, numbers and symbols.
    Worryingly, over one in three do not have a password on their
    smartphone or desktop.
  • People are sharing passwords to online sensitive accounts with friends
    and family. Of those sharing passwords, more than one in three share
    the password to their banking account, and on average they are sharing
    passwords for two accounts, with the most common passwords shared
    being email (50 percent), TV/media (45 percent) and social media (40
    percent).
  • Ironically, two in three believe it is riskier to share their email
    password with a friend than lend them their car, yet half of those
    sharing passwords do just that.

To learn more about the real impact of cybercrime and how consumers can
protect their digital information, go here
for more information.

About the Norton Cybersecurity Insights Report

The Norton Cybersecurity Insights Report is an online survey of 17,125
device users ages 18+ across 17 countries, commissioned by Norton by
Symantec and produced by research firm Edelman Berland. The margin of
error for the total sample is +/-0.75%. The U.S. sample reflects input
from 1,008 U.S. device users ages 18+. The margin of error is +/- 3.09%
for the total U.S. sample. Data was collected Aug. 25-Sept. 18, 2015 by
Edelman Berland.

About Symantec

Symantec Corporation (NASDAQ:SYMC) is the global leader in
cybersecurity. Operating one of the world’s largest cyber intelligence
networks, we see more threats, and protect more customers from the next
generation of attacks. We help companies, governments and individuals
secure their most important data wherever it lives.

Contacts

Edelman for Symantec
Chelsea Pohl, 206-505-6553
chelsea.pohl@edelman.com