A study of 2,500 Australians found that in the past year about one in 10 have experienced online identity theft, and each occurrence cost an average of $1,000. The Sydney Morning Herald reports that, extrapolated nationally, that translates to 1.37 million Internet users and $1.3 billion last year. The most common methods of online fraud, according to the study, include "phishing" e-mails--imitating financial institutions or relaying sob stories--requesting personal or banking information. Despite that 60 percent of the respondents have encountered fraudulent sites or e-mails, the survey found that 69 percent of respondents ages 18-24 do not check a site's security features before handing over sensitive information, while those over 50 are the most diligent.
Full Story