Last year, when naked photos of celebs were hacked and shared online, many were up in arms about the breach of privacy and the ease with which this could be done. However, one new study shows that Millennials would much rather have their bare bodies scattered across the webosphere than their financial information stolen. This study is fresh off the heels of the government breach that cost over 21 million people their privacy.
Mastercard recently conducted a survey and found that 62 percent of Millennials would rather have their nude photos leaked online than their financial data breached. These Gen Yers show a stark difference compared to the concerns of the general population where only 55 percent of people would rather have their bodies exposed on the internet over protecting their financials.
“Today’s digital lifestyle means consumer concerns regarding safety and security have moved online,” said Robert Siciliano, identity theft consultant, to Reuters.
These digital nomads are more concerned with email hacks or losing their phones over a possible home robbery or pick-pocketing, found the Mastercard survey. In part, it’s because young adults who came of age in the 2000s depend on technology more than their parents.
Also, they grew up in an era of celebrity sex tapes and the sexting phenomenon. But the loss of an email contact list and the dreaded time spent without a phone seems to hurt these twenty-somethings a lot more than others (raises hand).
Reuters found that more than half of Millennnials use the net to check financial information in public places where most forget leaves users open to public networks that are more easily hacked.
The Mastercard research revealed that 53 percent of Millenials barely ever change their passwords to online financial accounts or even use a starkly different password on other accounts – which is one way to protect yourself. But the rest of the population is suffering from this as well, with 46 percent ignoring the need to change passwords as well.
Most consumers think they’re doing a pretty good job at protecting themselves; a whopping 92 percent of 1,000 participants said the take precautions to keep their finances safe. But many depend on institutions to do their part. Consumers need to be proactive about protecting themselves without relying on banks alone. There are services such as Dashlane and Lastpass that can help manage multiple passwords and even let you know when it looks like someone is trying to hack your account.
“The fact that there is a heightened awareness is a good thing, although consumers still want to feel they are being protected by the institutions who are responsible for protecting their data,” Carolyn Balfany, Mastercard’s senior vice president of U.S. product delivery told Reuters.