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CyberXCenter's CEO was recently interviewed by Yahoo for seniors in Singapore still easy targets for online scammers.
Extracts:
Matthias Yeo, co-founder and chief executive officer of CyberXCenter - a Singapore company which builds cyber capabilities - inhabits a vastly different world from the volunteer spaces of RSVP Singapore.
His expertise in cybersecurity has immersed him in the darker realms of the digital landscape. He stressed that seniors are frequently singled out as targets by scammers who exploit their vulnerabilities.
"They may create profiles of seniors based on details about their family members, behaviours, and personal information readily available on the seniors' family social media accounts. This information may be exploited to make their scams appear highly convincing," he says.
"For example, if a scammer is aware that a senior's daughter is planning a trip to Australia, they might attempt to deceive the senior by claiming that their daughter is stranded at the Australian embassy and needs a fund transfer for administrative fees. There is also the potential for scammers to leverage on artificial intelligence to mimic the daughter's voice."
Seniors also frequently fall victim to scammers who seek to defraud them of their life savings. "They are the easiest targets as they do not know enough of the technology that enables the scammer to do that," Yeo says.
"For example, just by providing the OTP (one-time PIN) to the scammer, it allows the scammer to take ownership of the senior's account."
However, amid these formidable challenges, Yeo emphasised the feasibility of enabling seniors in the digital world. Proactive measures, such as regular TV programmes addressing scams, can educate those who may not possess the digital prowess of younger generations.
"Engaging in conversations about the latest online scams, teaching seniors how cybercriminals think, and educating them on cybersecurity best practices are pivotal," he asserts.
"While tools such as anti-malware solutions are readily available, awareness and education remain critical components of seniors' online safety."
Companies and technology firms entrusted with seniors' information must also exercise heightened precautions to safeguard their data. Yeo believes that collaboration between the government, companies, and cybersecurity experts is imperative to fortify the digital defences of seniors.
With education and knowledge, experts believe that seniors will be better able to enjoy the benefits of the digital landscape without running into scams that are potentially devastating to their lives.
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