Global cybercrimes cost $114 billion annually: Symantec

A study by Symantec Corp, the maker of Norton computer security software, estimates the cost of global cybercrimes at $114 billion annually.

The Norton Cybercrime Report 2011 said 431 million adults were victims globally in the past year, with costs of cybercrime surpassing the combined global black market in marijuana, cocaine and heroin. The study also identified men in the 18-31 years age group, who access the Internet from their mobile phone, as likely victims.