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February 2, 2010

Online banking customers replicate login details

by Richard Kilner

Story link: Online banking customers replicate login details

Online customer protection company Trusteer has reported that a large majority of online banking customers reuse their login credentials when accessing non-banking websites.

Almost three-quarters (73%) of online banking customers use their banking password for other websites and almost half (47%) reuse both their password and login ID for other websites.

The findings are based upon 4m users of the Rapport browser security service.

This exposes consumers to thieves who can take advantage of less secure websites to harvest login ID and password details which can then be used to unlock banking access.

Using alternative passwords and login IDs is an obvious and easy step users can adopt to help improve their own financial security when banking online.

Identity thieves and fraudsters are not the only criminals enjoying the benefits of the internet, however.

Last August Legal & General revealed that many burglars were using social networking websites to acquire details of when homes are vacant, a form of internet shopping for burglars.

Those with memberships of such websites are advised not to befriend strangers to help lower their chances of being burgled whilst on holiday.

 

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