According to a new report from Symantec, nearly three out of four Brits (74%) are more alarmed than ever about their privacy.
Despite this, the 2018 Norton LifeLock Cyber Safety Insights Report reveals that the majority of Brits still accept certain risks to their online privacy out of convenience and are willing to sell or give away certain personal information, such as their location and internet search history, to companies.
“The introduction of the General Data Protection Regulation (GDPR) in the European Union put data privacy on the agenda and significantly increased consumers’ awareness of their privacy rights,” said Nick Shaw, EMEA Vice President and General Manager, Norton. “Yet, consumers are still willing to trade their personal data out of convenience and to get more perks.”
Kapuria, executive vice president and general manager, Consumer Digital Safety, Symantec, added: “Our cyber safety is inherently tied to trust. 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 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.”
This report details that over the last year alone, nearly 17 million British consumers experienced cyber crime – that’s a third of Brits – and 62% believe it’s likely they will experience cyber crime in the next year.
In fact, 60% 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, an estimated £1.7 billion and 92.7 million hours have been lost dealing with the aftermath, with two out of five spending a week or longer dealing with the problem.