Jun 19, 2013

    Few S'poreans check how secure shopping sites are

    WITH the Great Singapore Sale in full swing, most people here are aware of cybercrime threats when shopping online. But just 15 per cent will check if the shopping site they are using is secure before making a purchase.

    This was revealed in a Trend Micro survey of nearly 2,000 people whose results were released last Friday.

    The survey, which polled Trend Micro's Facebook community members in April, also found that one in five respondents usually spends more than $100 in typical online purchases, and almost two in three make payments for their purchases via credit or debit cards.

    "Cybercriminals are getting savvier in the ways they capitalise on the online-shopping trend. Consumers in Singapore have to keep themselves protected online and stay one step ahead to avoid real-life financial losses," said Mr Terrence Tang, regional director for digital marketing and consumer business at Trend Micro.

    Also, 30 per cent of consumers purchase retail products through mobile applications, leaving them vulnerable if they perform transactions via malicious apps.

    A Symantec cybercrime report last year noted that the total cost of cybercrime here - including actual money lost and value of victims' time lost to cybercrime - increased to US$944 million (S$1.2 billion) last year from US$870 million in 2011's report. The direct financial cost per victim was US$657.

    According to the report, 48 per cent of adults online fell prey to cybercrime in the past 12 months. This translates to 3,800 victims every day, and three per minute.