SINGAPORE: A recent survey conducted by British market research and data analytics firm YouGov has unveiled striking generational differences in the prevalence and types of phishing scams experienced by Singaporeans. The study, which gathered responses from over 1,000 Singaporeans aged 18 and above, revealed that Generation Z is more susceptible to bank phishing scams, while Generation X bears the brunt of online shopping scams.
The online survey found that 13 per cent of the respondents reported falling victim to investment scams and bank or bank card scams, while an additional 9 per cent had experienced loan and social media phishing scams. These statistics indicate the pervasive threat of online scams in Singapore.
One of the standout findings of the survey is the generational divide in the types of scams encountered. Generation Z, encompassing individuals born between 1997 and 2009, is particularly vulnerable to bank or bank card phishing scams. This tech-savvy but less experienced demographic appears to be more susceptible to fraud in the financial sector.
Conversely, online shopping scams disproportionately affect Generation X, born between 1965 and 1980. It seems that the middle-aged demographic, often characterized by a greater online presence, falls victim to deceitful online shopping schemes.
Intriguingly, the survey data also revealed that job scams primarily target millennials born between 1981 and 1996. This demographic, sandwiched between the older and younger generations, appears to be the primary target for fraudulent employment opportunities.
Furthermore, respondents from the baby boomer generation, born between 1946 and 1964, were more likely to be ensnared by investment scams. Their historical context and perhaps lack of digital fluency make them susceptible to fraudulent investment offers.
The generational divide extends beyond the types of scams experienced to the protective measures taken. Older respondents, especially those from Generation X and the baby boomer generation, were found to be more proactive in adopting anti-fraud measures. This suggests that experience and awareness play a crucial role in protecting individuals from falling victim to scams.
The survey underscores the need for increased education and awareness campaigns, particularly targeting younger individuals, to protect them from the growing menace of phishing scams in the digital age. As scams continue to evolve, it is imperative for individuals of all generations to remain vigilant and adopt protective measures to safeguard their personal and financial information in the digital world.