New research from Mastercard has revealed that cybersecurity has become one of the most pressing concerns for consumers, with many believing it is harder to secure their digital assets than their physical homes.
The findings underscore growing unease among consumers over online fraud and data breaches as the digital banking ecosystem continues to expand, claims Finextra.
According to Mastercard, three-quarters (76%) of respondents said they are more worried about cybersecurity now than they were two years ago. Meanwhile, 70% admitted that they find it more difficult to secure their personal information online than to protect their physical homes.
The study found this concern is widespread across regions, with the highest anxiety levels reported in Singapore (89%), Brazil (86%) and India (81%). Respondents in the US (78%) and UK (74%) were also broadly aligned with the global trend. The research further noted that cybersecurity has entered mainstream discussions, with 44% of consumers stating that they think about digital security more than job stability.
Generational trends also played a significant role in the findings. Although 80% of consumers globally reported receiving at least one scam attempt over the past year, younger generations were more likely to engage with fraudulent content. Gen Z respondents had a 43% engagement rate, followed by millennials at 39%, gen X at 22%, and baby boomers at 14%.
Shopping and retail scams were the most common forms of online fraud, accounting for 39% of incidents. These were followed by investment and crypto-related scams (35%), identity theft (33%), and romance scams (29%).
Despite the growing threat, the Mastercard report revealed that the stigma associated with online scams prevents many victims from seeking help. Over half (56%) said they would feel ashamed if they were defrauded online, and nearly half (49%) said they would be too embarrassed to report a fraudulent transaction.
The findings highlight an urgent need for banks, FinTechs, and digital payment providers to bolster cyber defences while addressing the emotional and social barriers that prevent victims from coming forward. Mastercard’s report positions cybersecurity not only as a technical priority but as a growing cultural concern that requires both education and empathy-driven solutions.
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