A high majority Kiwis are worried about falling victim to online crime, according to findings from the latest Norton Cybersecurity Insights Report from Symantec.
The report found that 83% of New Zealanders worry they will be a victim of online crime, while 65% believe it is more likely their credit card information will be stolen online than from their wallets.
“Our findings reveal that consumer reservations are grounded in reality,” says Mark Gorrie, director, Norton by Symantec, Pacific region.
“In the past year, almost NZ$257 million was lost to cybercrime and approximately 856,000 New Zealanders were impacted by online crime,” he says.
“Consumer confidence has also been rocked by the number of mega breaches that exposed the identities of millions of people who were making routine purchases from well-known retailers,” Gorrie says. “Our findings demonstrate that the headlines rattled people’s trust in mobile and online activity, but it hasn’t led to widespread adoption of simple protection measures people should take to safeguard their devices and information online.”
According to the report, New Zealanders lost an average of 22 hours and $300 per person dealing with the impact of cybercrime. On top of this, Symantec says cybercrime takes an emotional toll with nearly nine out of 10 respondents (89%) saying they’d be devastated if their financial information was compromised.
However, Symantec says that despite the concern and awareness of cybercrime, consumers are overconfident in their online security behaviours.
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 New Zealand, less than half (45%) always use a secure password – a combination of at least eight letters, numbers and symbols.
Furthermore, people are sharing passwords to sensitive accounts with friends and family. Of those sharing passwords, more than one in three (38%) share their banking account password, and on average they are sharing passwords for two accounts, with the most common passwords shared being email (54%) and social media (46%).
The report reveals women are more likely to share their passwords than men (31% versus 23%).
Additional Key Findings:
Norton Top Tips to Stay Safe Online: