In today’s connected world, businesses are prime targets for cyber attacks and unintentional missteps can result in critical exposure of consumers’ sensitive personal information. According to the 2018 Norton LifeLock Cyber Safety Insights Report, released today from Norton™ LifeLock™, a Symantec (NASDAQ: SYMC) company, based on an online survey conducted by The Harris Poll of over 1,000 adults, nearly three out of four Americans (72 percent) are more alarmed than ever about their privacy. However, the majority accept certain risks to their online privacy in exchange for convenience (66 percent) and are willing to sell or give away certain personal information, such as their location (55 percent) and internet search history (55 percent), to companies.
In the age of information sharing, control is now at the heart of society’s privacy paradox – from who should have it to what the consequences should be when it is mishandled. In fact, 93 percent of Americans believe it is important to require that companies give customers control of how their personal data is used, while nearly half (49 percent) believe it is absolutely essential. Adequate recourse is also expected when personal information is not protected, with 51 percent of consumers believing it is absolutely essential that companies be required to provide a way for consumers to report misuse of their personal data, or consequently be fined.
“Our cyber safety is inherently tied to trust,” said Samir Kapuria, executive vice president and general manager, Consumer Digital Safety, Symantec. “Most consumers are aware their data is being captured from the websites they visit, the social media they share and the apps they use, and trust their information is being properly secured. However, these same consumers are often unaware of how and why data is captured and what companies do with it. The sheer amount of personal information being collected about us shows no signs of slowing and there is greater value placed on it than ever before.”
Additional U.S. findings include:
- People view data protection as a right – not a privilege. Most Americans are not willing to pay organizations to ensure protection of their personal information. That’s particularly true when it comes to social media providers, with 72 percent of consumers saying they are not willing to pay providers to ensure their personal information is protected when using them, compared to 58 percent for retailers, 57 percent for healthcare institutions and 56 percent for financial institutions.
- Americans have little to no trust in social media providers. 94 percent of Americans express little (40 percent) or no (54 percent) trust in social media providers when it comes to managing and protecting their personal information. In fact, more than a quarter of Americans with a social media account (28 percent) have deleted an account in the past 12 months due to privacy concerns.
- Despite concerns, Americans embrace data sharing. While 85 percent of Americans are concerned about their privacy, many say they are willing to sell or give away certain personal data, including Internet search history (20 percent would give away for free, 35 percent would sell) and location (19 percent would give away, 36 percent would sell). Some are even willing to provide identification document information, such as driver’s license or passport information (18 percent would give away, 25 percent would sell).
- Younger generations are more inclined to take action on social media accounts. 33 percent of Americans ages 18-38 and 31 percent of those who are 39-53 who have a social media account deleted it in the past 12 months due to privacy concerns, compared to only 20 percent of those who are 54 and older. However, younger generations are significantly more likely to embrace data sharing in the digital age, with more than 60 percent of those who are 18-38 willing to sell or give away certain personal information (such as their location or internet search history), compared to less than 45 percent of those who are 54 and older.
Kapuria adds, “Although consumers want greater control over their privacy and action taken against those that mishandle personal data, they want this control to come without hassle or cost, so they are willing to take risks in favor of convenience. Convenience continues to reign supreme when it comes to sharing personal data.”
What’s Next for Cyber Safety?
Over the last year alone, more than 105 million Americans experienced cyber crime – that’s two in five Americans (41 percent) – and 65 percent believe it’s likely they will experience cyber crime in the next year. In fact, 62 percent believe they are equally or more likely to experience cyber crime than they are to get the flu! As a result of cyber crime in the past year, losses totaled an estimated $11.3 billion and 324.2 million hours lost dealing with the aftermath, with two out of five (37 percent) spending a week or longer dealing with the problem.
Introducing NEW Norton™ 360 Plans
The realities of cyber crime can seem daunting – 84 percent of Americans want to do more to protect their online activities and personal information, while 43 percent don’t know how. As a result of consumers’ growing need to combat and protect against an influx of cyber threats, Norton LifeLock is launching NEW Norton™ 360 Plans which provide consumers with multiple layers of protection. This marks the first integrated consumer cyber safety solution for Norton LifeLock combining the power of Norton cyber security technology and LifeLock identity theft protection together in one solution.
NEW Norton 360 Plans may include:
- Device security
- Secure VPN for online privacy
- LifeLock Identity Alert™ System
- U.S.-Based Identity Restoration Specialists
- Million Dollar Protection™ Package
- Credit Monitoring (One to three bureaus, varies by plan)
- Dark Web Monitoring powered by LifeLock†
- Safecam to help block webcam takeovers
- Cloud backup (for PC)
- Smart firewall
- Password manager
- Norton LifeLock Virus Protection Promise
There are several best practices consumers can follow to help safeguard against online threats:
- Never open suspicious-looking emails: Cyber criminals send fake emails or texts that may look legitimate. The links in these emails or texts contain malicious software that can download malware and spyware. The software may be able to mine your computer for personal information, which is then sent to a remote computer where the attacker could sell the information on the dark web or use the information to commit identity theft.
- Make use of a VPN on public Wi-Fi: Many public Wi-Fi connections are unencrypted. This could give cyber criminals a chance to snoop on data being sent and received by your device. If there are software vulnerabilities on your device, attackers can inject malware to help them gain access to your data. In some cases, attackers create fake Wi-Fi hotspots purporting to be legitimate networks.
- Own your online presence: Carefully read the terms and conditions before opening an account or downloading an application, including social media accounts. Be sure to set the privacy and security settings on web services and devices to your comfort level for information sharing.
- Get two steps ahead and manage your passwords: Switch on two-step verification or multi-factor authentication wherever offered to help prevent unauthorized access to your online accounts. Always change the default passwords to something strong and unique on your devices, services, and Wi-Fi networks.
To learn more about the real impact of cyber crime and how consumers can help protect their online privacy, identity, and digital information, visit here.
About the Norton LifeLock Cyber Safety Insights Report
The Norton LifeLock Cyber Safety Insights Report is based on an online survey of 1,004 U.S. adults (aged 18+), commissioned by Norton LifeLock and produced by The Harris Poll, an independent research firm. Data were collected in October 2018. Data are weighted where necessary by age, gender, race/ethnicity, education, employment, household income, region, marital status, household size, and internet usage to bring them in line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents’ propensity to be online. No estimates of theoretical sampling error can be calculated.
How We Define Cyber Crime
The definition of cyber crime continues to evolve as avenues open up that allow cyber criminals to target consumers in new ways. Each year, we will evaluate current cyber crime trends and update the report’s methodology as needed, to ensure the Norton LifeLock Cyber Safety Insights Report provides an accurate snapshot of the impact of cyber crime as it stands today. In the 2018 Norton LifeLock Cyber Safety Insights Report, cyber crime is defined as having personally experienced a crime committed with devices over the internet, including, but not limited to, detecting unauthorized access on an online account, learning information was exposed in a data breach, and detecting malicious software on a device. Visit https://www.symantec.com/about/newsroom/press-kits/2018-norton-lifelock-cyber-safety-insights-report to learn more.
Symantec Corporation (NASDAQ: SYMC), the world’s leading cyber security company, helps organizations, governments and people secure their most important data wherever it lives. Organizations across the world look to Symantec for strategic, integrated solutions to defend against sophisticated attacks across endpoints, cloud and infrastructure. Likewise, a global community of more than 50 million people and families rely on Symantec’s Norton and LifeLock product suites to protect their digital lives at home and across their devices. Symantec operates one of the world’s largest civilian cyber intelligence networks, allowing it to see and protect against the most advanced threats.