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

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.