A fifth of Brits have experienced some form of cyber crime in the past year, a survey has revealed.
According to the Norton Cybersecurity Insights Report, which was produced by Symantec, more than 12 million people in the UK suffered from cyber crime over the last 12 months. On average, consumers lost more than one working day - nine hours - dealing with the fallout from online crime at a cost of nearly £134 per person, which equates to around £1.6 billion across the nation.
A huge number of businesses have also suffered at the hands of cyber attackers in recent months, with cyber security now a major concern for businesses of all sizes and sectors. That is why cyber liability insurance can form a very important part of a company's business insurance package.
Interestingly, in its research of 1,000 British people, Symantec found that baby boomers are more aware of cyber security risks than tech-savvy millennials. The report stated that millennials are "overly confident" and "often throw caution to the wind" when it comes to cyber security, with 36 per cent of respondents saying that they share their passwords.
Nevertheless, whether young or old, a consumer or a business, cyber security is an issue that everyone must take note of.
Tony Neate, CEO of Get Safe Online, advised that people should take the necessary steps to secure against cyber threats. He said: "Things like making sure you never use the same passwords for all of your online accounts, keeping your anti-virus software up-to-date and reporting anything suspicious. By doing this, we can hopefully stop people worrying about online crime, and instead empower them."