Kiwis care about cybersecurity, but not enough to protect themselves

Trend Micro has announced the key findings from its latest research into New Zealand consumer security trends. The survey looked at what makes consumers tick when it comes to cybersecurity, and whether these concerns are translated into taking action to protect themselves online.

As cyberthreats become more prominent and cybercriminals become more strategic, the research found that more than two thirds (70 percent) of New Zealanders feel more concerned about their personal cybersecurity now than five years ago. Despite this, it’s clear they still need to get the basics right with respondents admitting to using the same password for multiple accounts (54.10 percent), connecting to unsecure Wi-Fi networks (36.3 percent) and saving a pin or password in their phone (29.2 percent).

When it comes to the types of threats that New Zealanders are concerned about, online banking threats (62.5 percent) are of a higher concern than malware (56.6 percent), ransomware (42.2 percent) and cryptojacking (25.4 percent). However, that doesn’t stop Kiwis from storing financial records (34.1 percent) or financial information such as their tax file number and bank details (45.8 percent) on their digital devices.

“Mobile and internet connectivity has given New Zealanders more freedom than ever before to connect with friends and family, pay bills, watch videos and even meet new people. However, with an increased digital footprint, consumers need to not only be aware of the associated cyber risks, but also the importance of taking action to minimise these,” said Tim Falinski, Senior Director, Consumer, APAC at Trend Micro.

“Our research found that New Zealanders tend to wait until their devices are compromised before taking action. Instead of a reactive approach to security, consumers should take proactive steps such as using biometric passwords, two-factor authentication and anti-virus software. These small actions will make a huge impact in protecting sensitive information and providing peace of mind to consumers.”

Other takeaways from the study include:

• Despite being digital natives, millennials are more likely to drop the ball on cybersecurity than their older counterparts
  • 24 percent of 18-24 year-olds admit to using the same password for all their accounts, compared to just seven percent of those 65 and older.
  • Almost half of 18-24 year-olds (53 percent) keep sensitive financial details stored on their devices while just 42 percent of those 65 and older do.
  • Nine percent of 18-24 year-olds reported not taking any security measures for their devices, despite the majority (74 percent) experiencing an increase in concerns about cybersecurity over the past five years.

• Physical security is still perceived as more important than cybersecurity
  • Despite the risks associated with digital devices being compromised, including potential identity theft and financial losses, consumers place greater importance on the physical security of their homes and possessions.
  • Respondents are more than twice as concerned about physically securing their home (58.1 percent) than securing their devices (25.5 percent).

Conducted by Trend Micro, the state of New Zealand consumer security trends research analysed the cybersecurity perceptions and behaviours of over 1,000 consumers in New Zealand.

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