New research finds UK had highest cybercrime density worldwide last year - Business Leader News

New research finds UK had highest cybercrime density worldwide last year

Cybersecurity company Surfshark conducted research analyzing cybercrime density worldwide. Although there was an 8.6% decrease in cybercrime density in the UK compared to 2021, the country still stands strong in first place with a density of 4371 cybercrime victims per one million internet users.

This almost three times higher than the runner-up — the US (1612 cybercrime victims/one million internet users) and a staggering 28 times higher than Canada, which takes third place with 156 cybercrime victims/one million internet users.

“Last year, 801k people fell victim to cybercrime worldwide, resulting in a total of ten billion dollars in losses. Because of how lucrative cybercrime is, there’s no reason to think cybercriminals will stop striking anytime soon. That’s why it’s more important than ever to be vigilant and build up your cybersecurity defenses, which goes for businesses and individuals alike”, says Gabriele Racaityte-Krasauske, Surfshark spokeswoman.

Although the UK comes first by cybercrime density, it’s second in the world by total cybercrime count with 284,000 total cybercrime victims, surpassed by the US with 479,000 victims. Third up is Canada with 6,000 victims, followed by India with 3,000 victims, and Australia with 2,000 victims.

What are the most common cybercrimes globally?

In 2022, phishing continued to be the most common cybercrime, with the highest victim count in the world – 300,000. Next up were online payment fraud (63,000 victims), extortion (39,000 victims), tech support scams (33,000 victims), and investment fraud (31,000 victims).

What are the most financially devastating cybercrimes?

Investment fraud cost the world $3.3 billion in losses in 2022, making it the most financially devastating cybercrime in 2022. While it may not have been as widespread as phishing, a significant 31,000 individuals were duped by investment scams. Tech support scams are second on the list with $807m in losses, followed by confidence or romance fraud ($736m in losses), online payment fraud ($386m in losses), credit card fraud ($264m in losses), and government impersonation ($241m in losses).

$36.4 billion has been stolen by cybercriminals since 2001, and yearly losses have been on an upward trend throughout this whole period. In 2022 alone, $10.3 billion was stolen by cybercriminals, compared to $6.9 billion in 2021 and $4.2 billion in 2020. These days, with the soaring inflation rates and troubling economic situation worldwide, losing money to cybercrime is all the more devastating.