Malware's $7 billion Hit

It turns out that phishing schemes and spyware are more than just annoying; they're both turning out to pack a serious wallop for the wallets of online consumers. A new study from ConsumerReports.com says that such malware apps have cost consumers a whopping $7 billion in losses for over the last two years. The report also says that consumers have a 1-in-4 chance of becoming a cyber victim. The good news is that these numbers are down over last year. The report notes that 38 percent of those surveyed reported a computer virus infection in the last two years, and 17 percent did not have anti-virus software installed. During the past six months, 34 percent of respondents' computers were exposed to a spyware infection. Meanwhile, the median cost of a phishing incident is around $200.

Learn more about the study:
- read the article in eWeek