12345: Despite Warnings, Weak Password Policies Still Invite Cybercrime (Insurance Thought Leadership )

12345: Despite Warnings, Weak Password Policies Still Invite Cybercrime

  Friday, January 20th, 2023 Source: Insurance Thought Leadership

It’s Cyber Security 101: Multi-factor authentication and hard-to-crack passwords are table stakes for preventing incursions.

Nevertheless, ‘Password,’ ‘12345’, and ‘Qwerty123’ are among the most commonly found passwords leaked on the dark web by hackers, according to mobile security firm Lookout.

And, despite the amount of attention the issue receives, the situation does not appear to be improving.

A survey by EY, a consulting firm based in the United Kingdom, found that only 48 percent of government and public sector respondents said they are ‘very confident in their ability to use strong passwords at work.’

The problem is exemplified by a recent study by the U.S. Office of Inspector General -- part of the Department of the Interior (DOI), the agency responsible for managing federal lands and natural resources. Hacking DOI, it turns out, is relatively easy.

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