97% of Australians targeted by digital scams, says PayPal report

New research by PayPal reveals that a vast majority of Australians are either victims of or concerned about digital scams. The data shows that 97% of Australians have been targeted by online scams, leading to a heightened sense of vigilance and a community-driven effort to combat these fraudulent activities.

The study indicates that younger Australians, particularly millennials, are often the go-to for online safety advice. These individuals spend an average of 54 minutes per week, amounting to 3.6 hours per month or 43 hours per year, assisting others in avoiding digital pitfalls. Overall, Australians spend an average of 42 minutes per week, or almost a full workweek annually (34 hours), providing unpaid tech support to their networks.

Such volunteer work predominantly benefits family members, with 56% helping their parents, 40% supporting friends, 35% assisting their children, and 20% aiding co-workers. Daniela Fernandez, Head of Information Security at PayPal Australia, remarked on the findings: "There is an evolutionary advantage to exchanging information about threats and potential harms, and it seems we are instinctively hardwired to help improve collective risk awareness across our networks."

Despite these efforts, 57% of Australians know someone who has lost money to online fraud. The concern about online scams is shared by a substantial portion of the population, with 93% expressing worry. The anxiety has tangible impacts, as 87% of respondents avoid phone calls from unknown numbers due to scam fears, 20% report mental health effects, and 15% have missed legitimate payments, mistaking them for scams.

The significance of these concerns is reflected in the types of scams experienced. Scam calls lead at 85%, followed by scam texts at 82% and scam emails at 80%. The respondents often share common safety tips, such as using complex passwords (87%), using different passwords for different accounts, avoiding links in text messages (76%), and enabling two-factor authentication (74%). Notably, 84% of respondents reported being more likely to complete online purchases if a secure payment option like PayPal is available.

Discussing the implications, Fernandez added, "It's touching that Australians are so willing to help their parents, family, and friends stay safe from scams and other online dangers. However, the best defence is for individuals to maintain personal cyber safety awareness and precautions, so we must help others help themselves going forward."

The study underscores the communal approach Australians are taking to tackle online scams. Information about online safety is frequently shared through word-of-mouth, with 63% of people discussing it within their social circles. Additionally, 54% obtain scam-related information from their personal networks, nearly matching those who rely on online articles and news sources (62%).

Despite the pervasive awareness and efforts, the sophistication of scammers continues to evolve, making it increasingly challenging to stay ahead. According to the study, 85% of Australians believe that online scams are becoming more sophisticated, and 40% are more concerned about this issue than they were a year ago.

The findings highlight the ongoing need for comprehensive digital literacy and the importance of protecting personal information in an increasingly interconnected world.