The Australian Securities & Investments Commission (ASIC) has published new Moneysmart research on Gen Z financial behaviours and urged young Australians to “sense-check” financial information encountered on social media and through AI tools, warning that unverified or promotional content can drive riskier decisions. The study found 63% of respondents use social media for financial information and guidance, 30% use YouTube and 18% use AI platforms. More than half somewhat or completely trust financial information on social media (56%) and from “finfluencers” (52%), while 64% trust AI platforms. The survey also reported that 23% of Gen Z respondents own cryptocurrency, with 66% of those taking a short-term or speculative approach to at least some of their crypto investments and 29% trading based on social media and influencer content or recommendations. ASIC highlighted exposure to crypto promotion, with 72% seeing social media advertising encouraging crypto investment in the prior 12 months and 41% being contacted by someone offering to help them invest, and pointed readers to the Moneysmart website for free, independent guidance. ASIC commissioned YouGov to conduct the online survey between 28 November and 10 December 2025, using a nationally representative sample of 1,127 Australians aged 18 to 28.
Australian Securities & Investments Commission 2026-03-16
Australian Securities & Investments Commission urges Gen Z to verify social media and AI money advice as Moneysmart research points to riskier crypto decisions
The Australian Securities & Investments Commission (ASIC) released Moneysmart research on Gen Z financial behaviors, highlighting reliance on social media and AI for financial information. The study found significant trust in these platforms, with 56% trusting social media and 64% trusting AI, and noted high exposure to cryptocurrency promotion. ASIC urged young Australians to verify financial information to mitigate riskier decisions.