People who use internet banking might put themselves at risk of becoming victims of identity fraud by choosing passwords that are obvious to guess, a new report suggests.
Lloyds TSB internet banking said that a fifth of Britons have chosen passwords as obvious as their own name. Almost three-quarters admit that they use the same password for several websites.
A fifth of internet banking users have their passwords saved on their computer, which leaves them open to the risks of computer hacking.
A third wrote their security details down instead of remembering it. Four per cent have their details stored on their mobile phones and ten per cent have given their passwords to a friend or family member.
Matthew Timms, Lloyds TSB's internet banking director, said: "A password needs to be yours and yours alone."
He said that services like Lloyds TSB online banking are secure and safe to use, but if online banking customers make their passwords easy to guess, or if passwords are not kept secret, it is easy for fraudsters to take advantage.
Pet names (17 per cent) and family names (12 per cent) are the words most commonly used for passwords.
However, people are advised to use ‘strong’ passwords at all times. These are combinations of letters and numbers, avoiding the use of words that may be easy for others to guess, like the popular choices of names of pets or family members.
Those using online banking were urged to ensure they protect their passwords at all time by not divulging it to anyone, not writing it down and taking extra care when using public computers like those in an internet café.
Internet banking users warned about passwords
Financial Services > e-banking > Banking news
Internet banking users warned about passwords
Mon, 11 Jul 2005
| Banking news |
|---|
| Banks failing on online fraud says MPs report - Tue, 05 Apr 2011 |
| Lloyds TSB is to change the interest rates on its Vantage current account - Thu, 31 Mar 2011 |
| Contactless debit cards from Lloyds TSB - Tue, 29 Mar 2011 |
| More News |
Simplyhealth Dental Plan
Affordable cover from only £7.50 per month. Join now and get first month FREE
Amex Cash Back
Credit Card
Credit Card
Get 5% cash back on purchases with Amex
Income Protection Insurance
Get an instant quote with the award winning company