Many users, although they fear the loss of personal data and the breach of their online accounts, do not install security updates, leaving their computers exposed to cybercriminals
Businesses around the world are expected to spend $500 billion in 2014 to address issues related to malware, which is intentionally embedded in pirated software. Of this, $127 billion will be spent on security issues and $364 billion on data breaches, according to a new study conducted by IDC and the National University of Singapore (NUS).
On the other hand, consumers worldwide are expected to spend $25 billion and waste 1.2 billion hours this year due to security threats and costly computer repairs stemming from malware found within pirated software.
The study, titled “The Link Between Pirated Software and Cybersecurity Breaches,” also revealed that 60% of consumers surveyed said their biggest fear related to “infected” software is losing data, files or personal information, followed by unauthorized online transactions and having their email, social media and bank accounts compromised. However, 43% of the same respondents do not install security updates, leaving their computers vulnerable to cybercriminals.
Government officials have expressed concern about the potential impact of cybersecurity threats on their nations. According to the survey, governments are most concerned about the loss of business trade secrets or competitive intelligence, unauthorized access to confidential government information, and the impact of cyberattacks on critical infrastructure. It is estimated that governments could lose more than $50 billion in costs related to malicious code in pirated software.
The study was released as part of Microsoft's "Play It Safe" campaign, a global initiative to raise awareness about the connection between malware and piracy.
Source: protothema.gr
