asic is urging young Australians to pause and sense-check financial information found online, after a study found nearly two thirds of Gen Z use social media and about one in five use artificial intelligence tools to help make decisions about money. The regulator warns that reliance on unverified or promotional content can lead to riskier choices, especially in fast-moving markets such as cryptocurrency.
Asic Alert: Young People Turning to Social Platforms and AI
The research underpinning the warning shows widespread turn to platforms designed for engagement rather than accuracy. Nearly two thirds of Gen Z said they had used social media to seek financial advice, and roughly one in five reported using AI tools to inform decisions about their financial future. The study highlights a strong appetite among young people for trustworthy financial content, yet many report difficulty finding reputable guidance amid promotional and algorithm-driven material.
Risk Patterns: Cryptocurrency, Short-Term Trading and Influencer Trust
The survey findings point to specific behaviours that raise concern. Almost one in four members of Gen Z own cryptocurrency, and two-thirds of those owners take a short-term, speculative approach to at least some of their crypto holdings. Nearly a third of young people in the study said they trade based on social media or influencer content. High levels of trust in often unreliable sources are linked with decisions that may set unrealistic expectations about returns, ignore price volatility and overlook the realities of long-term investing.
Advice, Tools and What Young People Can Do Next
The regulator encourages young Australians who consult social media influencers or online content to balance what they see with reputable, evidence-based sources. Practical steps recommended include pausing before acting on a recommendation, sense-checking claims and verifying information with further research, particularly when content is commercial or created by people who may profit from their recommendations. Free, independent guidance is highlighted as available through an official financial-information website, which offers tools on budgeting, investing, superannuation, scams and other major financial decisions.
The survey was commissioned and conducted online between 28 November and 10 December 2025, with a nationally representative sample of 1, 127 Australians aged 18 to 28. The findings underscore gaps between the demand for credible advice and the realities of an online environment where algorithms prioritise clicks and views over accuracy. For young people weighing financial choices, the message is clear: verify, diversify sources and consider longer-term perspectives before acting on material seen online.
asic and the study authors caution that financial information accessed through social media and AI tools can be incomplete, promotional or misleading, and that short-term or speculative trading driven by online popularity carries tangible risks. The regulator recommends balancing digital content with established, independent resources to reduce the chance of decisions that could be later regretted.
