Online Fraud And Personal Information Theft Costs China $46.4 Billion In 2012

Posted on Jan 29 2013 - 1:09pm by Editorial Staff
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According to a report – actually first of its kind in China – to study Internet crime by People’s Public Security University of China  – suggested that on average online crimes such as fraud and personal information theft cost the country 289 billion yuan (about $46.4 billion) in the year 2012, reports Global Times.

The country saw an average of 700,000 web users as victims of internet crime every day, according to a report released by the People’s Public Security University of China on Sunday. The local public security department investigated over 118,000 Internet crimes last years, with reports on many cases involving multiple victims.

“Internet crimes are rising year on year as the number of Internet users have also increased dramatically,” Wei Yongzhong, a professor with the People’s Public Security University and lead author of the report, told the Global Times on Monday. “The public and government departments are not fully aware of the importance of taking precautions.”

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