Online Banking Adoption Vs. Security Behaviors: An Analysis of Financial Cybersecurity Practices Among U.S. Adults 65+

Daniel Chinaemerem, Oguntuase Michael and Eziefule Chinonso
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Daniel Chinaemerem: LeBow College of Business, Drexel University, Philadelphia PA USA,
Oguntuase Michael: College of Computing & Informatics, Drexel University, Philadelphia PA USA
Eziefule Chinonso: Centre of Excellence for Data Science, Artificial Intelligence& Modelling, University of Hull, Hull, UK

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 9, 487-496

Abstract: Digital banking adoption has increased across all age groups; older adults face disproportionate cybersecurity challenges due to lower digital literacy and different usage patterns. Understanding generational differences in security behaviors is essential for designing inclusive financial protection strategies and reducing elder financial exploitation. This study employs secondary data analysis and examines three key domains: online banking adoption patterns, cybersecurity behaviors (two-factor authentication awareness and password management), and fraud victimization outcomes across age cohorts, with particular focus on adults aged 65+ compared to younger groups. Significant disparities emerged across all measured domains. These findings reveal a critical security gap where older adults are simultaneously under protected by existing security measures and over victimized by fraud schemes. Financial institutions must implement age-inclusive security designs, including simplified two-factor authentication, enhanced fraud detection for senior accounts, and targeted education initiatives. Addressing these disparities requires moving beyond one-size-fits-all cybersecurity approaches toward human centered design that accommodates cognitive, physical, and social factors affecting technological adoption among aging populations.

Date: 2025
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