Young adults’ willingness to share personal information with others online could be putting them at greater risk of fraud, a report warns.
While older people are often seen as less tech-savvy, potentially putting them at greater risk of fraud, UK bank NatWest found that less cautious behaviour among those aged 18 to 24 years old in particular could be making them vulnerable.
NatWest, which commissioned think tank Policy Network to look into financial fraud trends, found more than 80% of young adults in this age group are willing to share their email address online with their friends, and as many as 29% are willing to share their mother’s maiden name – a commonly used security question.
This contrasts with just 60% of over-55s willing to share their email address, and only 12% willing to share their mother’s maiden name.
The report was launched at a fraud summit being held by NatWest.
David Lowe, NatWest’s head of fraud prevention, said traditionally the view has been that older people are most at risk of financial fraud.
He said: “Whilst fraud is still prevalent in this age category, we are seeing an increasing trend in younger ’digital natives’ falling victim to online fraud.”
Matthew Laza, director at Policy Network, said: “We need to ensure that today’s school children don’t become another ’generation scammed’.
“As more and more of life moves online this is a real danger for the future.”
Research for this report involved a review of available data on fraud and scams, analysis of YouGov survey data, and interviews with fraud experts.