One in 10 people lost money after being targeted online—Kaspersky Lab

With the diversity and quantity of online financial threats increasing, a recent study from Internet-security software company Kaspersky Lab and B2B International has found that 48 percent of consumers have been targeted by scams designed to trick them into revealing sensitive financial information for criminal gain, and an alarming 11 percent have lost money as a result of being targeted online. 

In the Asia-Pacific region, Kaspersky Lab discovered that 20 percent, or two out of 10 Internet users targeted by cyberattacks fell prey to them and lost money.

Almost half of Internet users encountered financial threats during the 12-month period studied. Threats included receiving suspicious e-mails that claimed to be from a bank (22 percent) or retail site (15 percent), and suspicious web pages asking for financial data (11 percent).

Among the financial threats experienced, 6 percent of respondents lost money because of online scams, 4 percent fell victim to data leakage and loss through a financial organization, and 3 percent have had cryptocurrency (like BitCoin) or e-money stolen. All in all, 11 percent of global users have reported money stolen from them online.

The research found that, where money was stolen, victims suffered an estimated median loss of $283, while 22 percent lost more than $1,000. Only a little more than half (54 percent) of those who lost money managed to recover all of it, while almost a quarter (23 percent) did not.

“The variety of online financial threats against consumers is growing. Along with the more traditional-style scams, we are starting to see cybercriminals exploit and look for new ways to defraud consumers, making it even more important for Internet users to be on their guard when conducting online financial transactions or clicking on suspicious links pertaining to be from their bank,” said Ross Hogan, global head of the fraud prevention division at Kaspersky Lab.

“At Kaspersky Lab, we are urging Internet users to use security software to protect themselves from these threats and [protect] themselves from the dangers of financial loss,” he added.

“While monetary loss as a result of a financial organization data breach or cryptocurrency scam is still relatively low, it is a lucrative way for online fraudsters to target and steal money from Internet users,” the Kaspersky Lab officer said.

“We are working with banks and financial institutions to ensure they have sufficient protection in place to not only prevent such losses from occurring, but to [also] maintain their reputation and customer trust. With new threats evolving every day, consumers expect their providers to keep up and ensure the safety of their money and financial transactions,” he added.

Kaspersky Lab’s security products include features to help protect users from these threats. Users of Kaspersky Internet Security and Kaspersky Total Security can benefit from Kaspersky Lab’s Safe Money online-protection technology, which optimizes security for online transactions, and helps prevent financial loss or fraud. Kaspersky Fraud Prevention for financial institutions also helps organizations to protect their customers—and their reputations—from online financial dangers.