41% Of Online Fraud Victims Never Recover Lost Funds Says Kaspersky Report

According to a recent Kaspersky Labs report and survey, things do not look good for online fraud victims. Apparently 41% of victims did not recover any of the lost funds while 45% recovered them all and 14% partially recovered them. 33% of victims had the money stolen during an e-Payment checkout operation, 17% during online banking sessions and 13% while online shopping.

Sadly only 12% of online store customers who were defrauded received full compensation, for online banking the figure was 15%. Of course Kaspersky Labs says that this means only one thing – that companies, consumers and businesses should all take more care in using appropriate protection when dealing with money online.

As expected the majority of consumers assume that their bank or retailer is responsible for protecting them. 34% of respondents take no security measures when using public WiFi while 45% believe the bank will return any stolen money. Despite the relative prevalence of these incidents, around 62% of respondents experienced an incident where attempts to steal financial details were encountered, the average cost of an attack was only about $74 per person.

Image courtesy of Kaspersky Labs