Baby boomers more concerned of cybersecurity than millennials

The 2017 Consumer Cybersecurity Study is based on survey data from approximately 800 US consumers and it examined how different generations view cybersecurity threats. Younger generations may be considered more tech-savvy than their parents’ generation, but according to the First Data study, 82% of millennials reuse passwords on websites and apps, and 42% will only change their passwords when forced. On the other hand, 70% of baby boomers reuses passwords on websites and apps, and 32% change their password only when prompted.

The study also looked at how generations think about online banking. Baby boomers have more trust in financial institutions than younger generations but less trust in social media sites. Baby boomers are also less likely to think that their method of online banking could be breached. One in five (19%) baby boomers thought it was unlikely there would be an online banking cyberattack compared to just 14% of millennials. When it comes to social media security, however, 63% of baby boomers thought social media was vulnerable to cyberattacks, while only 45% of millennials agreed with that statement.

In general, baby boomers showed more concern around current events as well. Only half (49%) of millennials have a heightened concern about their online security following recent cyberattacks, in comparison to 65% of baby boomers.