On­line data fraud is the ‘new nor­mal’

The Daily Telegraph (Sydney) - - Money Saver Hq - TIM McIN­TYRE

THREE quar­ters of Australians are wor­ried they can’t pro­tect their per­sonal and fi­nan­cial in­for­ma­tion from cy­ber fraud, while 87 per cent now ac­cept that data breaches and hacks are the new nor­mal, new re­search has found.

The Master­card sur­vey of 1010 Aus­tralian adults also re­vealed more than two-thirds of re­spon­dents did not feel in con­trol of their on­line se­cu­rity.

Master­card spokesman Matt Barr said it was im­por­tant peo­ple knew how to pro­tect them­selves on­line.

“When it comes to buy­ing goods or ser­vices via so­cial me­dia, cus­tomers can take some small, sim­ple steps,” Mr Barr said.

“In­sist on us­ing a se­cure pay­ment chan­nel when a seller is not known to you, par­tic­u­larly when buy­ing goods via so­cial me­dia. No one should con­tact you for per­sonal in­for­ma­tion or ac­count data. If this hap­pens, delete the email and reach out to your bank.”

He said mon­i­tor­ing ac­counts and state­ments reg­u­larly was im­por­tant, along with smart pass­word cre­ation and avoid­ing un­recog­nised links.

“Use a dig­i­tal wal­let. They use mul­ti­ple lay­ers of se­cu­rity to keep you safe,” he said. “Change the pass­words across all of your ac­counts and en­sure you use a strong pass­word which con­tains a mix of let­ters, num­bers and sym­bols, with no per­sonal in­for­ma­tion in­cluded. En­able multi-fac­tor au­then­ti­ca­tion and add bio­met­rics to ac­cess ac­counts.”

So­cial de­mog­ra­pher Mark McCrindle said peo­ple’s ac­cep­tance of cy­ber fraud shows a shift in at­ti­tude to­wards the dig­i­tal econ­omy.

“Go back 10 years, peo­ple were wor­ried about how their data would be used or their credit card se­cu­rity,” Mr McCrindle said. “Australians have now made the de­ci­sion to trade off their pri­vacy for con­ve­nience and price. It’s like the school of fish be­ing chased by a shark; some are go­ing to get eaten but most won’t be af­fected.”

He said peo­ple also trust that big com­pa­nies and re­tail­ers will sort out any breaches or is­sues when and if they oc­cur.

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