China loses US$46B to cybercrime in 2012

[InfoSec News <alerts () infosecnews org>]

http://www.zdnet.com/cn/china-loses-us46b-to-cybercrime-in-2012-7000010461/

By Liau Yun Qing
ZDNet.com
January 29, 2013

Online crimes such as fraud and personal information theft have cost China 289 
billion yuan (US$46.4 billion) in 2012, but the lack of legal support makes it 
tough for local authorities to reduce the losses.

Citing a study by the People's Public Security University of China on Internet 
crimes in the country, Global Times reported Tuesday that local public security 
departments investigated more than 118,000 Internet crimes last year, with many 
cases involving multiple victims.

The study noted an average of 700,000 Internet users in China are victims of 
cybercrime each day. However, many victims do not report the crime as the cases 
may involve only small amounts of money and are thought not worthy of involving 
the authorities, it added.

Topping the list of online crimes, according to number of victims and money 
involved, are fraud, prostitution, pyramid selling and personal information 
theft, it stated.

[...]


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