Uswitch Broadband expert says online scams cost £1.4M (Approx. $1.8M) in the last year. The findings highlight significant vulnerabilities in online safety habits. Scammers are targeting people of all ages, exploiting weaknesses like poor password habits, using public Wi-Fi, and not using stronger security tools like 2FA.
Cybercriminals exploit weak passwords
According to Uswitch Broadband experts, 33,600 online accounts were hacked in the last 12 months, with total losses of £1.4M (Approx. $1.8M). Weak passwords are one of the main reasons. 34% of users still use weak passwords and only 22% of users use 2FA on all accounts despite knowing they should. These habits make it easier for hackers to get in.
Public Wi-Fi and generational vulnerabilities
Additionally, 64% of users use public Wi-Fi, with 51% of users accessing sensitive info like banking details or work files. That’s a big risk as public networks don’t have encryption and are easy to hack.
It also highlights the generational divide in cybersecurity risks. Younger users (Gen Z) are targeted through social media scams and older users through email fraud. For example, 37% of Gen Z users had their accounts hacked last year, many through fake online stores, phishing links, or fraudulent ads on social media.
People aged 25-34 lose money from scams on social media, with 25% of victims falling for fake investments and competitions. In contrast, 45% of email scam victims are over 50, with scams often involving fake invoices, bank alerts, and charity donation requests.
Uswitch tips to improve online safety
We may be overlooking basic cybersecurity habits because of convenience. Sensitive accounts are accessed on public Wi-Fi, but without a VPN we are open to hackers. Many people also use weak passwords and don’t use two-factor authentication (2FA).
Uswitch experts suggest several ways to enhance online security that include using strong and unique passwords and changing them regularly, enabling two-factor authentication (2FA) for all accounts, avoiding accessing sensitive accounts on public Wi-Fi or using a VPN instead, checking devices connected to your home Wi-Fi to ensure no unauthorized access, and updating your router with the latest firmware for added protection
The threats will continue to evolve, but doing these will better protect you online.