Consumers will spend USD 22 billion on checking malware attacks this year, while companies will invest a whopping USD 114 billion in dealing with such malicious softwares, a study has said. According to the study conducted by market research group IDC and commissioned by Microsoft Corporation, the chances of infection by unexpected malware are one in three for consumers and three in 10 for businesses. Malwares or malicious softwares are intended to damage or disable computers and computer systems. "Consumers will spend 1.5 billion hours and USD 22 billion identifying, repairing and recovering from the impact of malware, while global enterprises will spend USD 114 billion to deal with the impact of a malware induced cyber attack," Microsoft India said in a release. Although some computer users may actively seek pirated software in hopes of saving money, the chances of infection by unexpected malware are one in three for consumers and three in 10 for businesses, it added. "Software is pirated in order to save money, however, the reality is that with pirated and counterfeit software, the user ends up paying for malware, Trojan, adware and other harmful viruses," Microsoft India Director (Genuine Software Initiative) Sumeet Khanna said. The survey, which was done in 10 countries, covered 1,104 consumer respondents, 973 business user respondents and 268 CIO/IT manager respondents. The survey respondents said 32 percent of their PCs come without operating systems and 12 per cent did not install security updates. 30 per cent of consumer respondents did not install security updates and nearly 70 per cent of consumers who use pirated software had problems with it. That apart, 64 percent of the respondents who had used counterfeit software experienced security issues, while, 45 per cent said counterfeit software slowed their PCs and software had to be uninstalled. Also 48 per cent of respondents said that their greatest concern with using counterfeit software was data loss and 29 per cent were most concerned with identity theft. The study also found that a very high percentage of corporate users download software unauthorised as per their corporate policy, exposing another risk to the workplace. Embedding malware with counterfeit software is a new method for criminals to prey on computer users who are unaware of the potential danger, Khanna said.

Facebook Inc appointed a former Genentech executive to its board of directors on Wednesday, the social networking company's latest move to expand its boardroom following its initial public offering last May.

Susan Desmond-Hellmann, the Chancellor of the University of California, San Francisco, becomes Facebook's ninth director and the second woman on its board.

A former president of product development at Roche Group-owned biotechnology company Genentech, Desmond-Hellmann also sits on the board of directors of Procter & Gamble Co.

Facebook Chief Executive Mark Zuckerberg cited Desmond-Hellmann's experience shaping public policy and operating public companies.

Desmond-Hellmann will serve on the board effective immediately, but will have to be elected by shareholders, along with the other Facebook directors, at the company's annual meeting in June.

Facebook Chief Operating Officer Sheryl Sandberg joined Facebook's board in June 2012, a month after the company's rocky initial public offering.

The world's No. 1 online social network became the only U.S. company to debut with a market value of more than $100 billion. But its shares plunged more than 50 percent in the months after the IPO on concerns about its long-term money making prospects.

Facebook shares have rebounded roughly 56 percent from their 52-week low, finishing Wednesday's regular trading session at $27.45.

© Thomson Reuters 2013