The generation born after the invention of the internet is native to two worlds: the physical world, and the virtual. If that seems overly dramatic, consider this statistic: Millennials spend over 7 hours a day online! Education consultant Marc Prensky coined the term digital native to describe this generation, which is growing increasingly influential. So, how are digital natives driving online trends? And how are businesses, advertisers, brands – and, yes, fraudsters – adapting to their wants and needs?

Here are 10 things you need to know:

1. Millennials care about cybercrime.

About half of all people between the ages 18 and 34 say they’re “extremely” or “very” concerned about falling prey to online scams. In contrast, only a third of Baby Boomers say they’re concerned about online fraud.

2. Digital natives are uniquely susceptible to fraud.

Despite the amount of time Millennials spend online or on their phones, digital natives don’t always take steps to secure their personal information. For example, 2/3 of them don’t lock their devices with passwords, even though most Millennials store financial information on their phones and computers.

3. Millennials’ love of sharing makes fraudsters’ jobs easy.

Digital natives love to share their information online. Most look at their phones within 15 minutes of waking up – sharing photos, posting on social media, and commenting on others’ posts. But online fraudsters often rely on personal information for social engineering, so digital natives’ obsession with sharing may actually work against them.

4. Fraudsters are also preying on their generosity.

Digital natives value generosity. Their desire to be generous – or to appear generous – has driven the popularity of crowdfunding sites. Scammers take advantage by targeting digital natives in Nigerian prince scams, or by soliciting donations for a fake cause.

5. But digital natives are also cautious when making online payments.

Research shows that 68% of Millennials tend to halt online transactions when they have doubts about payment security. Only 28% of Baby Boomers do the same.

6. Millennials expect brands to take responsibility for trust and safety.

And they’re unforgiving of those who deliver anything less than the best. A third of digital natives report that they’d leave their bank in the event of a single fraud incident, while 25% would post negative comments about the offending brand on social media.

7. And these brands would do well to pay attention.

Most digital natives are a huge source of income for e-commerce businesses and online banks. This population of 91 million vastly prefers to do their banking and shopping online.

8. Digital natives are driving online trends.

When new technology comes out, they’re always the first to try it. Millennials have been the earliest adopters of everything from social media to m-commerce, jumping on board with innovations two years before they become trends.

9. They’re also forcing brands to be savvier about advertising.

Only 1% percent – 1 %! – of Millennials report that a compelling ad would make them more likely to trust a brand. Digital natives value authenticity, and most don’t have the time or bandwidth to spare for ads and commercials. Instead, digital natives prefer to review blogs and social media before making a purchase.

10. Digital natives are changing the way we live and work.

Their desire to constantly consume information and media while on the go places huge demands on businesses and innovators. Millennials are driving the speed of innovation, and they expect it to be as fast as the internet itself.

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Roxanna "Evan" Ramzipoor

Roxanna "Evan" Ramzipoor is a content marketing manager at Sift. Her debut novel The Ventriloquists will be released August 27, 2019.