Real news from the privacy world

$200,000 Loss a Year due to Forgotten Passwords

Recently, 2,000 volunteers from the U.S and the U.K participated in a survey that has brought quite astonishing results into light. The survey showed that companies lose approximately $420 in productivity per employee over the period of one year because of the struggle workers encounter with their passwords. Lets say the company has 500 employees, that would add up to more then $200,000 loss per year.

The results if the survey that was sponsored by Centrify and conducted by Widmeyer also said that 49% of respondents use their own personal mobile devices for business purposes, what is even worse more then a third of the respondents admit that they do not use any passwords on their personal devices even though there are confidential documents, customer contact information and other valuable and private data from their company mail kept on their devices.

Centrify CEO Tom Kemp stated that he thinks that probably most of you would agree that passwords are broken, however it is shocking when you get such results and try to estimate the extent of what passwords cost organizations on both effectivity and efficiency of the workers.

Passwords were entered online more then 10 times everyday by a bit more than a quarter of respondents, and over a third told that they have been denied access to their online accounts due to forgotten password.

The number of account profiles owned by consumers was usually underestimated the results of the survey show that nearly two thirds of respondents think that they have 10 or less of online profiles, while almost a third of respondents make a new account every week.

Even more surprising results are that 81% of respondents say that they worry about having their identity stolen, moreover, 80% are anxious about having their credit card information stolen online, and 74% tell that they are scared of becoming a victim of cybercrime. To help you prevent all these things from happening, a very wise decision would be to start using VPN that extremely increases your security and privacy online.

Not to mention that the passwords that are being used are quite poor in complexity. About 25% of the respondents reported that they always use the same password whenever needed, another 25% shift through various similar passwords, and just a bit less than 25% use their personal information in their passwords. There is a very great article available with tips on increasing your password strength that are strongly suggested of being read and used by these groups of respondents.

Merely 15% of respondents in the United Kingdom and 12% in the Unites States think that their passwords are really secure. These results demand for a better approach, would it be identity management system with single sign-on feature for all your accounts and multi-factor identification, or entirely new encryption systems.

Shortly after the results of the survey were published, a group of unidentified hackers have leaked a list of almost. Dropbox said that any stolen login information was the result of password reuse.

While on the same topic, last month, a hacker has published almost 5 million Gmail addresses and passwords for these accounts. Like Dropbox the same was also claimed by Google that they were accessed as a result of password reuse and not through a breach.

Google stated that the credentials are often obtained through a various other sources. For example, if you reuse the same username and password over a few websites and one of those websites gets hacked, your login information could be used for these other sites.

It is smart to use dummy email accounts for various shady websites that do not offer proper security for users that have accounts there. NordVPN website is protected by SSL encryption and other security measures to keep everything secure.

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