KUCHING: Baby Boomers, a group often considered less tech savvy, report more secure online habits than Millennials, with only eight per cent admitting to sharing passwords, a Norton Cybersecurity Insights Report said.
In a press statement, Symantec pointed out that while Millennials are born in the digital era, they often throw caution to the wind with 26 per cent admitting to sharing passwords and other risky online behavior.
The report also found that in Malaysia, 56 per cent of consumers believed it is more likely to have their credit card information stolen after shopping online rather than out of their wallets.
It also highlighted that one in three Malaysian internet users have personally experienced cybercrime in the past year.
“Cyber attackers are not slowing down. They are using increasingly sophisticated techniques to steal consumers’ personal information such as passwords, contact information and banking credentials to fill their coffers,” said Choon Hong Chee, director, Asia Consumer Business, Norton by Symantec.
“As consumers in Malaysia adapt to the fast-evolving digital world, we encourage them to take proactive measures to safeguard their information online and not become complacent about security.”
More than six in 10 (59 per cent) of Malaysians believe using public Wi-Fi is riskier than using a public restroom.
The report also pointed out that Malaysian consumers lost an average of 27 hours over the past year dealing with the fallout of online crime and nearly RM1,890 per person – totaling roughly RM 8.9 billion.
On top of this loss, cybercrime takes a true emotional toll with four in 10 (41 per cent) of consumer cybercrime victims in Malaysia feeling frustrated after becoming a victim.
“Despite concern and awareness of cybercrime, consumers are fairly confident in their online security behaviors. When asked to grade their security practices, they consistently mark themselves a strong ‘B+’.
“But in reality, most are not passing the most basic requirement of online security: password use,” Symantec said.
In Malaysia, it noted that 76 per cent believe it is riskier to share their email password with a friend than lend them their car (24 per cent), yet sharing of password is still common.
It added, of those using passwords, nearly two in five (38 per cent) respondents always use a secure password – a combination of at least eight letters, numbers and symbols.
“People are sharing passwords to online sensitive accounts with friends and family. Of those sharing passwords, one in three (34 per cent) share the password to their banking account,” it said.
Norton highlighted a few tips to stay safe online. Among them, choose a unique, smart, secure password for each account you have online.
It also advised Internet users to delete emails from senders they don’t know, and don’t click on attachments or links on suspicious-looking emails.
On social media sites, it warned, if an offer sounds too good to be true, it just might be.
“Beware of the pitfalls of clicking on links from social media sites. Before clicking, hover the mouse over the link to see its destination. Only click on links that lead to reputable, official company pages,” it said.
It also advised users to always monitor your financial accounts for unusual activity.
It commented, “If there is a charge that you didn’t make, report it immediately. Often cybercriminals will charge a small ‘test’ amount before attempting to drain your bank account.”
It further advised users to not put off installing security software such as Norton Security and updating it regularly, and always use a secure backup solution to protect files and backup regularly so criminals could not hold them for ransom.