New research from PayPal reveals a staggering statistic: 97% of Australians have encountered attempts by scammers to deceive them digitally. Even more concerning, 57% of Australians know someone who has fallen victim to online fraud or scams, highlighting the pervasive nature of this issue in today’s digital landscape.
Interestingly, millennials are emerging as the frontline defenders against these scams. And typically leverage their tech expertise to spend an average of 54 minutes per week to educate others on online safety. This commitment translates to 3.6 hours each month and an impressive 43 hours annually dedicated to helping friends, family and even colleagues navigate the complexities of online security.
The impact of these scams goes beyond financial losses, affecting mental health and daily routines. As a result, 20% of Australians have experienced a toll on their mental wellbeing due to being scammed. With, 87% also admitting to avoiding phone calls from unknown numbers out of fear of falling victim to scams. Additionally, 15% have missed legitimate payments due to mistaking notices or reminders as fraudulent attempts.
Australians have embraced a role as volunteer tech support, with 86% actively helping others stay safe online. The majority of Australians direct this assistance towards parents (56%), followed by friends (40%), and children (35%). Even co-workers seek guidance on avoiding scams, with 20% doing so.
Despite these efforts, the statistics reveal a mixed outcome. 81% of those who provide guidance have successfully prevented someone from being scammed. However, the prevalence of scams remains a sobering reality, as the majority of Australians continue to witness their impact on others.
In combating these threats, informal channels play a crucial role alongside traditional sources of information. Two-thirds of Australians discuss scams within their social circles, while over half rely on networks for information. This underscores the importance of community awareness in staying vigilant.
When it comes to practical tips, Australians prioritise using complex passwords (87%), avoiding clicking links in text messages (76%), and enabling two-factor authentication (74%). Many also prefer secure payment options like PayPal (55%), which offer added security during online transactions.
Despite these precautions, concerns about the evolving sophistication of scams persist among 93% of Australians. This heightened awareness reflects the increasing complexity of digital threats, making proactive measures essential in safeguarding personal and financial information.
Daniela Fernandez, PayPal’s Head of Information Security, emphasises the collective effort required to combat scams effectively. “There is an evolutionary advantage to exchanging information about threats and potential harms,” she says. “And, it appears that we instinctively possess a hardwired inclination to improve collective risk awareness across our networks.”
As Australians continue to navigate the digital landscape, the commitment to enhancing online safety remains crucial. By staying informed and sharing knowledge, individuals can empower themselves and their communities to mitigate the risks posed by online scams.
For more information on Australian online scams visit PayPal Australia NewsroomÂ
