Canadians make Cybersecurity Education a Family Affair Reveals Scotiabank Survey

Canadians make Cybersecurity Education a Family Affair Reveals Scotiabank Survey

September 26, 2024

More than half of Canadians regularly worry about relatives becoming victims of cybercrime, but an even greater number are committed to protecting loved ones from it

TORONTO, Sept. 26, 2024 /CNW/ - In recognition of Cybersecurity Awareness month - an internationally recognized campaign held each October to raise awareness about the importance of cybersecurity - a recent Scotiabank poll revealed Canadians are concerned about cybercrime and the risk it poses to vulnerable family members.

In line with the Government of Canada's 2024 campaign theme, Generation Cyber Safe: Because online security knows no age, the Scotiabank survey found that while many Canadians worry about cybercrime - emails, texts or phone calls that result in identify theft, data loss or stolen credentials - the demographic commonly known as the "sandwich generation", adults squeezed between caring for aging parents and kids, is particularly concerned about its affects, not only on themselves, but also their dependants. Specifically, the poll results found:

• 58% of Canadians ages 35-54 are concerned about parents falling victim to cybercrime
• 32% of Canadian parents worry it will impact their children
• Three in five Canadians (58%) aged 18-34 are concerned about becoming victims of cybercrime - the highest of any age group - and also worry about their parents (61%) and grandparents (53%) being targeted

"Our survey found that while Canadians increasingly prefer mobile and app-based banking, they also worry more about the associated risks as cybercriminals become more sophisticated," said Steve Sparkes, EVP and Chief Information Security Officer & Enterprise Platforms at Scotiabank. "The survey also revealed that Canadians are having educational conversations about what to look out for and are being proactive about protecting their financial data - an essential step in staying safe while banking online and combatting cybercrime."

Canadians savvy about Cybersecurity

The poll results also revealed that:

• 58% of Canadians regularly educate their parents on the latest scams
• 51% of parents regularly inform their children on the latest scams
• 87% of Canadians use unique passwords for online banking
• More than half of Canadians (56%) regularly update their online banking passwords

While Cybersecurity Awareness Month is an excellent time to engage in discussions about online safety, Canadians should be vigilant all year round to protect themselves against cybercriminals. Scotiabank's Cybersecurity and Fraud Hub is a resource available to all Canadians to help identify and protect themselves from financial fraud and cybercrime.

Scotiabank recommends the following cybersecurity tips for all Canadians:

1. Sign up for Fraud Alert notifications from your bank to catch suspicious transactions in real time
2. Never respond to unsolicited marketing emails/texts/direct messages
3. Activate 2-step verification on your online accounts
4. Add a lock screen feature on your mobile device and use biometrics to enable access to your device and accounts
5. Never divulge or share your PIN/password with anyone
6. Select a PIN/password that's not easily recognizable, avoid common personal information, numbers and words, and regularly change your password
7. Shop only from reputable online retailers and only conduct online shopping/banking from trusted devices (i.e., personal smartphone or home computer)
8. Protect yourself from identify theft by shielding your private information when in public and limiting the amount of personal information shared on social media

About the survey
This Maru Public Opinion survey conducted on behalf of Scotiabank was undertaken by the sample and data collection experts at Maru/Blue. 1,505 randomly selected Canadian adults who are Maru Voice Canada online panelists were surveyed from August 1st to August 2nd, 2024. The results of this study have been weighted by education, age, gender and region (and in Quebec, language) to match the population, according to Census data. This is to ensure the sample is representative of the entire adult population of Canada. For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of +/- 2.5%, 19 times out of 20. Discrepancies in or between totals when compared to the data tables are due to rounding.

About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at July 31, 2024), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on X @Scotiabank.

SOURCE Scotiabank - Products & Services

Media inquiries only: Monica Aza, Manager, Global Communications, [email protected]

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