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1、S I N G A P O R EHow concerned are Singaporeans as AI tech advances and do they think financial institutions are doing enough to prevent phishing scams in 2025?Phishing fears in the AI era/Research Reality2Contents0102ForewordReport takeaways0304MethodologyConsumer insightsSingapore financial phishi
2、ng report 2025Singapore financial phishing report 20253Get in touchExplore our solutionsRun a surveyAs phishing attacks grow more sophisticated,Singaporeans are facing a growing wave of digital deceptionone fueled by advancements in AI.From hyper-personalized scam emails to deepfake voice fraud,cybe
3、rcriminals are leveraging technology to make phishing attempts more convincing than ever.But just how concerned are consumers about these evolving threats?And more importantly,do they believe that banks and financial institutions are doing enough to educate and protect them?”Chi Wei TeoGeneral Manag
4、er,YouGov SingaporeForewordhttps:/ financial phishing report 20254Report takeawaysAI concerns72%of Singaporeans are concerned about the likelihood of falling victim to a financial phishing scam,and 4 in 5 Singaporeans are concerned about the use of AI to create more convincing phishing scams(80%).Th
5、is increases to almost 9 in 10 among the Baby Boomers+generation(86%).The impact of educationOf the 57%of of Singaporeans who have received phishing awareness materials from a bank,73%said they were“somewhat helpful”and 19%said they were“very helpful”.The big short(fall)Singaporean consumers expect
6、more from banks/financial institutions.79%agree that banks should be doing“a lot more”to educate people about financial phishing scams.Scam spotlight14%of Singaporeans say they have fallen victim to phishing scams,and more than two-thirds of them have experienced loss of money as a result of the sca
7、m(69%).Favored formatsDigital formats such as short videos,social media posts and mobile notifications are cited as the most effective format for educational materials about financial phishing,and the majority of Singaporeans prefer to receive phishing awareness updates on a monthly basis.Singapore
8、financial phishing report 20255 5The insights in this report were sourced via YouGov Surveys providing rapid answers from the right audience.The multi-region survey was conducted from January 23 February 7,2025,with 1,002 respondents in the Singapore.Additional insights are available for 16 other ma
9、rkets:Australia,Canada,Denmark,France,Germany,Great Britain,Hong Kong,India,Indonesia,Italy,Mexico,Poland,US,Spain,Sweden,and the UAE.The target group“Victims of financial phishing scams”refers to Singaporeans who answered“Yes,I have”to the question:“Have you ever been a victim of a financial phishi
10、ng scam,whereby you have unintentionally shared personal or financial information with a scammer?”Throughout the report,each generation is defined as:Gen Z(Born in 1997 to 2012)+Millennials(Born in 1981 to 1996),Gen X(Born in 1965 to 1980)+Baby Boomers+(Born in 1964 or before).The insights in this r
11、eport have been sourced via YouGov Surveys.MethodologySingapore financial phishing report 20256How concerned are Singaporeansabout phishing in 2025?Phishing fears:Singapore financial phishing report 20257YouGov Surveys,January 23 February 7,2025.SG n 150Phishing fears:72%of Singaporeans are concerne
12、d about the likelihood of falling victim to a financial phishing scamThis increases to almost 4 in 5 among Gen X(78%).How concerned or unconcerned are you of the likelihood of you falling victim to a financial phishing scam?Get in touch72%17%7%3%65%19%12%4%71%19%7%3%78%13%6%3%73%18%6%2%ConcernedNeit
13、herconcerned norunconcernedUnconcernedDont knowNat RepGen ZMillennialsGen XBaby Boomershttps:/ financial phishing report 20258YouGov Surveys January 23 February 7,2025.SG n 150Phishing fears:4 in 5 Singaporeans are concerned about the use of AI to create more convincing phishing scams(80%)This incre
14、ases to almost 9 in 10 among the Baby Boomers+generation(86%).Get in touchHow concerned are you about the use of AI to create more convincing phishing scams?80%14%3%3%75%15%6%4%76%17%3%4%84%14%1%1%86%10%1%3%ConcernedNeither concerned nor unconcernedUnconcernedDont knowNat RepGen ZMillennialsGen XBab
15、y Boomers+https:/ financial phishing report 20259Phishing fears:The majority of Singaporeans feel confident in identifying phishing scams,but are still concerned about AIMen are more likely to feel self-assured,with 66%stating they feel confident compared to 54%of women.Interestingly,85%of those who
16、 are confident in identifying phishing scams are concerned about the use of AI to create more convincing phishing scams,4 percentage-points higher than the national representative.Get in touchHow confident or unconfident are you in identifying phishing scams?60%28%9%3%66%26%6%2%54%31%11%4%ConfidentN
17、either confidentnor unconfidentUnconfidentDont knowNat RepMaleFemale85%11%3%ConcernedNeitherconcerned norunconcernedUnconcernedHow concerned are you about the use of AI to create more convincing phishing scams?YouGov Surveys,January 23 February 7,2025.SG nat rep by gender n 450Target group:Confident
18、 in identifying phishing scams n600https:/ financial phishing report 202510How many Singaporeans have fallen victim to phishing attempts?Charting phishing expeditions:Singapore financial phishing report 202511YouGov Surveys,January 23 February 7,2025.SG nat rep by gender:n 150NA not shownCharting ph
19、ishing expeditions:14%of Singaporeans state they have been a victim of a financial phishing scamThis percentage remains somewhat consistent across all genders and generations.Have you ever been a victim of a financial phishing scam,whereby you have unintentionally shared personal or financial inform
20、ation with a scammer?14%67%7%4%Yes,I haveNo,I have notDont knowPrefer not to sayNat repGet in touchhttps:/ financial phishing report 202512YouGov Surveys,January 23 February 7,2025.Each country:n 500All unweighted 17 market average/:Indicates statistically significant differences compared to AllChar
21、ting phishing expeditions:Singaporeans are slightly less likely to have been victims of a financial phishing scam compared to the multi-market averageIndonesians are most likely to have been victims(31%),while Italians are least likely(7%).Have you ever been a victim of a financial phishing scam,whe
22、reby you have unintentionally shared personal or financial information with a scammer?Yes,I haveAll17%US15%Indonesia31%UAE30%Mexico26%India25%Australia23%Canada19%France16%Germany15%Singapore14%Spain14%Hong Kong13%Sweden11%Great Britain11%Poland11%Denmark10%Italy7%Get in touchhttps:/ financial phish
23、ing report 202513YouGov Surveys,January 23 February 7,2025.SG victims of financial phishing scams n 100Charting phishing expeditions:Victims of financial phishing scams were mainly targeted through social media messages31%of financial phishing scam victims were targeted via social media messages,fol
24、lowed by text messages or a messaging service(i.e.,SMS phishing).Get in touchHow was your personal or financial information targeted?(%of victims of financial phishing scams)31%29%21%10%7%2%1%Through emailSocial media messagesOtherOver a phone call(i.e.,voice phishing or vishing)Via text messages or
25、 messaging service(i.e.,SMS phishing)Dont knowPrefer not to sayhttps:/ financial phishing report 202514Charting phishing expeditions:More than two-third of financial phishing victims experienced loss of money as a result of the scam(69%)While 1 in 5 reported compromised personal information(21%).Get
26、 in touchYouGov Surveys,January 23 February 7,2025.SG victims of financial phishing scams n 100Results combined for Loss of Money and Both financial loss and compromised informationDont know not shown.What were the consequences of the phishing scam?69%21%10%Financial loss andcompromised informationC
27、ompromised personalinformationThere were no significantconsequences of thephishing scamVictims of financial phishing scamshttps:/ financial phishing report 202515Do Singaporeans think banks are doing enough to prevent financial phishing?Phishing for answers:Singapore financial phishing report 202516
28、Phishing for answers:79%of Singaporeans agree that banks should be doing a lot more to educate about financial phishing scamsOn a related note,only 25%agree that it is not banks responsibility to protect people against financial phishing scams.To what extent do you agree or disagree with the followi
29、ng statements:“Banks should be doing a lot more to educate about financial phishing scams.”“It is not banks responsibility to protect people against phishing scams.”Get in touchYouGov Surveys,January 23 February 7,2025.SG nat rep:n 1,00025%24%49%2%AgreeNeither agree nor disagreeDisagreeDont Know70%2
30、3%3%5%https:/ financial phishing report 202517YouGov Surveys,January 23 February 7,2025.SG nat rep n1,000 Received phishing awareness materials n550Phishing for answers:More than half Singaporeans say they have received phishing awareness materials from their bank(57%)Of those who received phishing
31、awareness materials,73%said they were“somewhat helpful”and 19%said they were“very helpful”.Get in touchHave you ever received phishing awareness materials or training from your bank?How helpful did you find the materials or training provided by your bank?57%30%11%2%Yes,I haveNo,I have notDont knowPr
32、efer not to sayNat rep19%73%6%3%(%of those who received phishing awareness materials)Very helpfulSomewhat helpfulNot helpfulDont knowhttps:/ financial phishing report 202518YouGov Surveys,January 23 February 7,2025.SG n 150/:Indicates statistically significant differences compared to nat rep.Phishin
33、g for answers:Digital formats are cited as the most effective format for educational materialsThe majority of Singaporeans opt for digital formats(such as short videos,social media posts,and mobile notifications)for education around phishing scams,with only 17%selecting in-branch workshops or presen
34、tations.What formats do you think would be most effective in educating people about phishing scams?Get in touchResponse labelNat repGen ZMillennialsGen XBaby Boomers+Short videos or animations52%46%52%55%54%Social media posts and tips52%57%56%48%47%Mobile app notifications or guides52%44%48%56%58%Em
35、ails or newsletters with tips and examples40%36%36%39%49%Interactive quizzes or simulations30%29%32%30%27%Interactive online tutorials or courses28%25%28%24%35%In-branch workshops or presentations17%17%17%15%20%Dont know8%8%9%7%5%Prefer not to say2%3%2%1%1%https:/ financial phishing report 202519You
36、Gov Surveys,January 23 February 7,2025.SG n 1,000“Prefer not to say”not shown.Phishing for answers:The majority of Singaporeans would prefer to receive phishing awareness updates on a monthly basisMost Singaporeans favor a less-is-more approach,preferring to receive updates on a monthly or only when
37、 theres a major new scam rather than weekly.Get in touchHow often would you prefer to receive phishing awareness updates from your bank?25%22%21%13%9%4%4%MonthlyQuarterlyOnly when theres a major new scamDont knowWeeklyNeverYearlyhttps:/ financial phishing report 202520Real insights into what the wor
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