Improving password security amid rising threats

The classic IT security protocol ‘username and password’ has become increasingly vulnerable to cyber attacks in recent years. According to recent research, account takeovers are becoming increasingly common, with nearly a third of American adults losing control of a digital account by 2023. A quarter of these were business accounts or accounts used for both personal and business use. Social media accounts were the most frequently hacked, with banking and email apps in second and third place. And 70% of hacked accounts were ‘protected’ by a password that the owner had reused elsewhere.

This is a serious wake-up call for organizations of all sizes. Not only are business accounts themselves at risk of direct takeover, but as the lines between personal and business IT become increasingly blurred, business systems can easily be compromised due to the use of personal accounts on business devices or the use of personal devices. for business purposes. And if you’re not disciplined about password reuse, something as simple as sharing your streaming password with a few friends can cost your company both financially and reputationally – if they’re not careful about it and it falls into the wrong hands. , it won’t be long before hackers exploit this weakness.