A survey by security firm Intercede has revealed that fewer than 5% of 16-35 year olds in the UK and US believe their digital identity is completely protected by effective safeguards.
Analysts believe that this uncertainty about security practices serves as a warning to all businesses and government departments who provide online services and products.
A quarter of the 2,000 polled said they access more than 20 password protected websites, applications or devices in the course of a year.
Only 45% said however that they change passwords when they have to, and only 6% believe their data is completely secure based on the password policy that they apply.
When questioned on the increasingly digitally connected world, such as the increased use of mobile devices on their digital privacy, nearly 70% believe the risk will increase.
Communications technology expert, Lubna Dajani, said: "Millennials have been digitally spoon-fed since birth, yet a general malaise is brewing among this demographic in terms of how safe their online data really is.
"Millennials understand their personal information is a form of currency they need to part with to access online services, yet they participate in this 'digital trade-off' in the belief that more can be done to protect their privacy."
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