As per the data from Netsafe, identity theft has a significant impact compared to other scams. Also, it was reported that identity theft affects as many as 133,000 New Zealanders annually, costing the economy as much as $209 million yearly, per Eftsure.
Age and Identity Theft
In New Zealand, the age groups most at risk are the elderly and the young adults. The elderly, often not as tech-savvy, may lack the understanding of online safety protocols, making them prime targets for identity thieves. According to the New Zealand Department of Internal Affairs, approximately 26% of fraud victims in 2022 were aged 60 and above, a stark reminder of their vulnerability.
On the other hand, young adults, despite being digitally literate, also fall victim to identity theft. They tend to have a higher online presence, sharing personal information on social media, online shopping sites, and other digital platforms. This oversharing can inadvertently provide cybercriminals with the information needed for identity theft. In 2022, around 34% of identity theft victims in New Zealand fell in the 18-29 age bracket.
While the elderly may be more susceptible to certain types of identity theft, such as financial scams, younger generations also face heightened risks in the digital realm. We must bridge generational divides to target identity theft truly. Through education and awareness, individuals can actively contribute to creating a more secure online environment and mitigate the risks associated with identity theft.
In short, just because you grew up with the Internet doesn’t mean you’re necessarily better equipped to recognise and thwart identity scams than those who didn’t grow up with such interconnectedness.
Unique Challenges for Older Adults
Older adult Kiwis face similar challenges when it comes to identity theft as elderly individuals. Key challenges include:
Digital Literacy: Older adults may not be as confident or experienced in navigating the digital world. They might struggle with understanding the nuances of internet safety, making them more susceptible to online scams or phishing attempts.
Trust in Institutions: Older adults often display higher levels of trust in institutions, including banks, government entities, and healthcare organisations. Scammers exploit this trust by impersonating these institutions and asking for personal information.
Limited Knowledge of Cyber Security Practices: While some older adults are tech-savvy, many might not know how to use the latest cybersecurity measures. This includes creating strong passwords, enabling two-factor authentication, and recognising secure websites.
Prevalence of Healthcare Scams: Older adults are a common target for healthcare scams. These can range from fraudulent insurance calls to pharmacy scams, where identity thieves aim to collect personal and healthcare information.
Isolation and Loneliness: Older adults who live alone or feel socially isolated may be more vulnerable to identity theft. Scammers can exploit their loneliness, building rapport and trust before stealing their personal information.
Addressing these challenges requires a multifaceted approach, including improving digital literacy, promoting awareness of identity theft scams, and enhancing support systems to help older adults navigate the digital world safely.
Prevention tips and tricks
Yes, scams are becoming more sophisticated, and scammers continuously adapt their tactics to exploit new technologies and vulnerabilities. As someone who may not be well-versed in technology, there are still several steps you can take to protect yourself from scams:
Educate Yourself: Stay informed about common scams and frauds. Familiarise yourself with the types of scams that are prevalent, such as phishing emails, fake websites, and social engineering.
Be Sceptical: If something seems too good to be true or if you receive unsolicited messages asking for personal information or payment, be sceptical. Scammers often use urgent language to create a sense of urgency.
Verify: If you receive an unexpected message or call, verify the legitimacy of the request. Contact the person or organisation directly using contact information from their official website or trusted sources, not the contact details provided in the suspicious message.
Use Strong Passwords: Ensure that you use strong, unique passwords for your online accounts. Avoid using easily guessable information like birthdays or names. Consider using a password manager to generate and store complex passwords securely.
Enable Two-Factor Authentication (2FA): Wherever possible, enable two-factor authentication for your online accounts. This adds an extra layer of security, requiring a second form of verification in addition to your password.
Keep Software Updated: Regularly update your operating system, antivirus software, and other applications. Software updates often include security patches that protect against known vulnerabilities.
Use Reliable Security Software: Install reputable antivirus and anti-malware software on your devices to help detect and block potential threats.
Check URLs and Email Addresses: Be cautious of clicking on links or downloading attachments in emails, especially if they are from unknown sources. Check the sender’s email address and verify the legitimacy of the URL before clicking.
Limit Personal Information Sharing: Be cautious about sharing personal information online, especially on social media. Scammers may use publicly available information to craft convincing phishing messages.
Seek Help: If you’re unsure about the legitimacy of a message or if you suspect you’ve been targeted by a scam, seek help from friends, family, or professionals. Don’t hesitate to ask for advice or assistance.
Report Scams: If you come across a scam or fraudulent activity, report it to the relevant authorities, such as your local consumer protection agency or law enforcement.
Remember that scammers often exploit people’s trust and lack of awareness. Being cautious, staying informed, and taking proactive steps to secure your online presence can go a long way in protecting yourself from increasingly sophisticated scams.
