The overwhelming growth of the Internet in all spheres of life poses new challenges for young children growing up in the digital age, with potential short- and long-term ramifications. Parents have an essential role in the development of the attitudes and behaviour of their children. However, studies indicate that adults are not adequately mitigating the range of cyber risks that children face and that parent-oriented solutions are simply inadequate. This study attempts to fill research gaps in the status and nature of parents’ perceptions of the online use of their children in Australia based on their ethnic background. This study adopted a mixed-method approach, surveying 204 parents from different ethnic communities in Australia followed by 16 in-depth interviews and three focus-group discussions. The results indicate that parents’ perceptions of online risk for children differ based on their ethnicity, cultural adaptation, gender, and age. Parents from multicultural societies are less equipped to deal with cyber threats that their children face and are ill-equipped to monitor and mitigate the risks posed. The results of this study have important policy implications, from deepening our understanding of the nature of the problems to facilitating the development of short- and long-term strategies, appropriate information systems, policy guidelines, and interventions.