Study: SG, ID most on edge as AI-powered phishing shakes global trust

In an era of rapid digital acceleration, a new concern is rattling consumer confidence worldwide: phishing scams powered by artificial intelligence. A recent study from YouGov, covering 17 international markets, reveals a striking paradox - many users feel confident identifying scams, yet a rising fear of falling victim persists, especially in Asia.

According to the survey, nearly six in ten respondents globally (59%) believe they can detect financial phishing attempts. The highest confidence levels are found in the UK (74%), Australia (72%) and the US (71%). Indonesia (66%) and India (65%) also report strong assurance. But beneath that surface of self-belief lies mounting anxiety - anxiety being most acute in Singapore (72%) and Indonesia (70%).

This unease is rooted in the increasing use of AI to craft scams that mimic human tone, brand language, and even emotional nuance. What once looked like suspicious spelling errors now often reads like an official update from your bank or employer.

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A key source of this anxiety is the rise of AI, which is enabling more sophisticated and convincing phishing attacks, the study concluded. Concerns about AI-driven scams are highest in Singapore and Australia (80% each), followed closely by the UK (79%). In India and Indonesia, 75% of respondents express similar fears.

More than just a cybersecurity threat, it's a test of brand credibility. As phishing attacks become more convincing, brands risk reputational damage if customers can't clearly distinguish official communications from malicious ones.

What's striking about Singapore and Indonesia is the combination of confidence and fear. These are digitally engaged markets, but their hyper-awareness of cyber threats may be precisely what fuels the anxiety. In 2024, Singapore topped Southeast Asia's cyberattack charts, with Kaspersky Security Network reporting more than 21 million attacks launched from compromised servers.

Who's responsible?

When it comes to protecting against phishing, global opinion is split - equally placing the onus on banks and individuals. Seventy-four percent of respondents believe banks must do more to educate consumers, but an identical proportion also say individuals should take greater responsibility for their own digital security.

This shared burden presents a strategic opportunity for brands and financial institutions to collaborate - not just to inform, but to reassure. Currently, only 37% of respondents say they've received phishing awareness training from their bank. Among those who have, the majority found it useful - underscoring the potential for impactful education when done right.

Almost half of global respondents want regular phishing awareness updates. Monthly communications are the most preferred (30%), but 13% would welcome weekly reminders. In contrast, 17% say they only want to be alerted when a major new scam emerges.

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