Contrary to popular belief, older adults are not the most susceptible to scams withthose under 25 years old being 10 per cent more susceptible to scams than those 65 years and above. This was according to a survey by UOB and the Lee Kuan Yew School of Public Policy. Asst Prof Reuben Ng, principal investigator for the national study, explained that “youths being digital natives are most vulnerable as their ease with technology may have lowered their guard towards scams.”
Surveying over 2,000 Singapore residents, the research provides foundational insights on inclusive banking by examining Singaporeans’ attitudes and behaviours on digital banking adoption and digital resilience. Read the full press release here.
