China Loses $46.44 Billion To Cyber Crime In 2012

What's Next In Payments®
3:46 PM EDT January 29th, 2013

The People’s Public Security University of China has released a study reporting that China lost $46.44 billion to cyber crime in 2012, with an average of 700,000 people falling victims to attacks each day.

Security departments have supposedly looked into 118,000 2012 internet crime cases, many of which involve multiple victims, pyramid schemes, personal identity theft and defrauding, reports The Paypers.

Read the full story here.

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