Intelligent CIO APAC Issue 25 - Page 42

FEATURE : NETWORK SECURITY

IN CHINA , RESPONDENTS REGISTERED THE HIGHEST PERCENTAGE OF CONSUMERS WHO THINK GOVERNMENT REGULATORS ARE MOST RESPONSIBLE FOR PREVENTING FRAUD .

With the US experiencing the highest number of financial fraud instances , it would make sense that the US has the highest percentage of respondents who had to contact their bank or credit card company to either cancel a card , dispute a charge or reported losing money as the result of fraudulent charges .
Generational differences found in study
The report also found a wide range of generational differences , as Millennials ( born between 1981 and 1996 ) are consistently the biggest victims of all forms of fraud , ranging from credit and debit card fraud to digital wallet , digital payment , banking and tax fraud .
GenXers ( born between 1965 and 1980 ) reported the second highest number of fraudulent charges made by their credit cards or digital payment apps , while GenZers ( born between 1997 and 2012 ) report the third highest instances of losing money as the result of fraudulent charges .
Millennials also spend the most time trying to recover money lost due to fraudulent charges , disputing fraudulent charges , and checking accounts for fraudulent or unusual activity out of any of the generational groups . GenZers spend the second most amount of time addressing fraudulent activity , followed by GenXers and Baby Boomers .
GenZers experienced fraud most frequently through digital payment apps when asked about their
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