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Managing personal passwords poorly has cost UK consumers millions of pounds

UK residents have lost millions of pounds due to poor password management practices and protections, according to unified passwords, secrets and privileges software vendor Keeper Security.

This breaks down to an average £295 per hack of a personal account, the vendor has estimated in its Keeper Password Practices Report, based on a Censuswide survey of 4000 respondents across the USA and UK.

Darren Guccione, CEO and co-founder of Keeper Security, said consumers were “wilfully turning a blind eye to simple password hygiene”.

“It’s time for Brits to take control of their cybersecurity again. Using a trusted password management system is a simple first step to streamlining and securing their digital lives,” Guccione pointed out in the related announcement.

Some 15% of UK respondents said they go about their daily lives knowing their passwords had been compromised.

Many admitting creating simple, easily cracked passwords based on pet names or their birth date, and about half used the same password across multiple accounts or apps.

Additionally, only only one in ten confirmed changing their password as often as every three to five months, according to Keeper Security.

Americans fared little better in the survey. Click here to read the US announcement.

“This new research shows consumers struggle to keep their passwords securely protected and fear the repercussions of a cyberattack,” said Guccione.

Keeper Security in September launched an upgraded platform for managed services providers (MSPs) aiming to keep their customers safe, whether SMBs or businesses.

The upgraded KeeperMSP platform expanded Keeper zero-trust security capabilities, including advanced reporting and alerts, breach monitoring, compliance reporting and secure file storage alongside the flagship connections and secrets management, the company said.

( Photo by Obi – @pixel6propix on Unsplash )

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