2024 Consumer Cybersecurity Pulse Report
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Today, over 311 million Americans use the Internet for various activities. October is National Cybersecurity Awareness Month and to learn more about consumers’ internet habits and the cybersecurity issues they face, ReasonLabs commissioned a survey of 7,484 consumers across the United States from August 23 - September 4, 2024. Questions included everything from what they do on social media, to the types of sensitive data they reveal, how they store their passwords, and if they have ever been a victim of an online scam.
The survey results highlight significant online security, privacy, and identity theft issues. These findings underscore the growing vulnerability of individuals and point to the urgent need for better education on cybersecurity and stronger personal security practices.
Are you protected from online scams? Take our quick Security Quiz to find out.
Online Fraud Is Rampant
With 74% of respondents falling victim to online scams, it’s clear that cyber threats are becoming more common and impactful. These findings come off the heels of a record 2023 with more than $12.5 billion in losses to online scams, as found in the FBI’s recent IC3 report. This high percentage highlights the pervasive nature of digital fraud and underscores the critical need for consumers to be more vigilant and educated about potential online threats.
The survey also uncovered that 71% of respondents reported having at least one of their online accounts hacked, an alarmingly high number. Americans have over 100 accounts on average, many of which are susceptible to online hacks and fraud. This finding reveals a significant vulnerability in how consumers manage their online security, suggesting a widespread issue with current protective measures or personal practices.
Password Management Practices
When it comes to Americans’ passwords, their habits vary greatly. 32% of respondents use a password manager, a tool that can store, manage, and create complex passwords. In contrast, 33% of individuals rely exclusively on memorizing their passwords, eschewing digital and physical storage methods. This method could be more dangerous as many consumers will reuse passwords for multiple accounts or create passwords that are not sufficiently complex. The relatively low adoption of password managers further highlights a gap in personal security habits.
Interestingly, 12% of respondents save their passwords to files on their computer. This method, while perhaps convenient, exposes users in various ways - if a cybercriminal can plant a Trojan Virus or a Remote Access Tool (RAT) on their device, they could steal the information in this file. It also exposes them to potential data breaches if their device is compromised.
Sharing Personal Information Online
When it comes to sharing personal information online, there are often two schools of thought; a strict adherence to data safety and not exposing oneself or succumbing to the idea that personal data is already out there so there is no need to make the effort. This is supported by the survey findings which detail that 45% of respondents enter sensitive personal information online, including credit card details, home addresses, and phone numbers.
Divulging these types of sensitive information further amplifies vulnerabilities to identity theft, an already huge problem. Experts believe there is an identity theft case every 22 seconds, and the problem is forecasted to grow even worse in the future.
Are you protected online? Take our Security Quiz to find out your protection score.
Internet Usage
As we detailed above, nearly all Americans use the internet in some form or fashion. The survey found that a substantial 19% of respondents use the Internet for all of the following: social media, education, online banking, shopping, gaming, and streaming. This multifaceted use of the internet once again underscores the extensive personal data individuals are sharing across different platforms.
Interestingly, 7% of respondents said they use the Internet exclusively for social media and nothing else. This relatively small percentage indicates that the majority of users engage with the internet for various other activities, each of which carries its own set of privacy and security implications.
Online Security Solutions For Consumers
As the survey showed, consumers are facing an unprecedented risk to their devices, privacy, and identity due to the amount of personal data divulged online and the evolving nature of online scams. Cybersecurity products like the Online Security platform are essential tools for defending against these dangers.
ReasonLabs’ Online Security platform enables users to live their best digital lives with unbeatable cyber protection. Features of the platform include identity protection, anti-scam, data breach protection, next-gen antivirus RAV Endpoint Protection powered by EDR, VPN, and more. For consumers, investing in a comprehensive cybersecurity product is crucial to living a digital life safely.
How To Report A Scam
Given the alarming number of Americans who have either fallen victim to an online scam or have had one of their accounts hacked, we would like to educate readers on how to report a scam and fight back against cybercriminals. Reporting an online scam in the United States can be done in different ways, some involving multiple steps to make sure appropriate action is taken against hackers. Here’s a short guide on how to report a scam and to who:
- Visit the Federal Trade Commission (FTC) fraud reporting website: ReportFraud.ftc.gov. File a complaint about the scam you encountered, whether it is identity theft, phishing, or any other type of fraud.
- Head to the Internet Crime Complaint Center (IC3) website: IC3.gov. IC3 is a partnership between the FBI and the National White Collar Crime Center (NW3C) to deal with online fraud.
- Contact the Consumer Financial Protection Bureau (CFPB) through their website: ConsumerFinance.gov. If the scam involved financial services, this is the right agency to file a complaint with.
- If the scam affected your finances, alert your bank or credit card provider. They might be able to assist in securing your accounts and addressing any unauthorized charges or account openings.
- Consider involving your local law enforcement. They can help you with scams involving threats or significant financial loss.
If you are struggling with an ongoing scam, our agents are available to help at reasonlabs.com/help or over the phone at: (+1)300-0998.
Recommendations For This Year’s National Cybersecurity Awareness Month
This October marks the 21st National Cybersecurity Awareness Month, first declared by the President of the United States and Congress in 2004. There is no better time for consumers to enhance their online security practices, which can be done by the following:
- Many respondents having fallen victim to online scams, so increasing public awareness and education about common fraud tactics and protective measures is crucial.
- Given the high rate of account hacks and password-related vulnerabilities, adopting a password manager tool can deliver a more secure way to handle the dozens of American credentials.
- As many respondents enter sensitive personal information online, it’s essential to utilize websites with strong security protocols and to be cautious about the information shared. Only access websites that use a secure connection (look for HTTPS in the URL).
Are you protected from online scams? Take our quick Security Quiz to find out.
Conclusion
In conclusion, this survey displays a vivid picture of current online security and privacy challenges faced by consumers in the United States. It underscores the need for more robust protective measures and better-informed online practices to safeguard against the ever-evolving landscape of digital threats. Users must educate themselves on the evolving world of cyber attacks, scams, and identity theft tactics that are common today. For more information about ReasonLabs visit https://www.reasonlabs.com and to learn more about how to fight back against online scams, visit the ReasonLabs Blog.
