Are we leaving digital doors unlocked for hackers?
Given the sophisticated hacking attacks, how safe are online consumer transactions? What are the precautions a consumer must take. Theft has taken a different turn. It is not just money anymore. Data and Identity is the new currency. And thieves are renamed as hackers in the digital world!
More than 42 million people in India fell victim to cybercrime in the past 12 months, suffering approximately $8 billion (Rs. 44,400 crore) in direct financial losses. Over 66 pc of Indian online adults have been victims of cyber crime in their lifetime. In the past 12 months, 56 pc of online adults in India have experienced cybercrime--more than 115,000 victims of cybercrimes every day, 80 victims per minute and more than 1 per second-and the average direct financial cost per victim is $192--up 18 pc $163 over 2011.
More and more consumer transactions are moving digital. We all know how this shift increases efficiency, cost effectiveness and are faster and scalable. And of course, environment friendly, saves paper. At the same time, one needs to know how secured are these transactions. Are we leaving the digital doors unlocked for the hackers? What precautions can we take to secure and lock our information and transactions in the online world?
