New research from the Nationwide Building Society shows that parents are potentially placing their finances at risk by giving their children access to smartphones and tablets, without taking the right precautions and measures to protect them against cybersecurity risks.
The statistics from the reports points out that more than one in ten parents (13%) will have bought a smartphone for their children at Christmas. This adds to the 70% of children who already have smart devices. The report that had surveyed over 2,000 parents with children that are aged between 2 and 16, highlights that one in four (24%) parents admit that they are not aware of what malware is. In addition to this, almost three in ten (28%) mums admit that they lack understanding on this subject, compared to the one in eight (12%) dads. The parents have also admitted that they take various risks, this includes not using strong passwords or not changing them regularly.
The report also discovered that even though eight in ten (86%) parents share their smart devices with their children, less than half (46%) of parents have discussed the risk and dangers of cybersecurity with their children. On the other hand, more than three in five (61%) have discussed with their kids about the possible risks of being online and about their personal safety online. Nationwide has conducted research into this and also found that four in ten (44%) parents confessed that they do not monitor their child’s usage of the internet with a smart device, which could potentially lead to unforeseen consequences. In addition to this, eight in ten (84%) parents were not assured that their children knew how to differentiate a fake email from an authentic one or recognise a fake download link (85%).
Nonetheless, there are still less than half (46%) of parents have conversed with their children about the dangers and risks of cybercrime. While around a third (35%) assume their smart devices are safe, one in ten (10%) don’t believe the risks are that high, whereas 8% don’t have the time and another 8% does not comprehend the dangers.
About Stuart Mosley
Stuart Mosley (CeFA, CeMap, CLTM) founded SJ Financial Solutions in June 2005 having spent 12 years with big corporates such as Halifax and Santander. He felt the personal touch and straight speaking was missing from financial and mortgage advice services and set up SJ Financial Solutions to change this.
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