Using a secure password has become a prerequisite for using online services but it seems as if folks are having a hard time remembering their credentials.

This is according to the results of Kaspersky Labs’ Global IT Security Risks Survey 2018 which surveyed 12 488 consumers in 22 countries.

As many as 31 percent of respondents reported that they cannot always remember their online banking credentials. The survey further found that 20 percent of respondents still use a smartphone or another device to note down their private banking information.

“We might be taught at school to write important things down, like historical dates or mathematical equations, to help us remember them – but doing this with financial credentials puts us at risk. Writing a credit card PIN in a notepad, or saving a bank account passcode on a laptop, could make you more vulnerable to attack and result in monetary losses,” explains Kaspersky.

And folks have experienced loses, with 26 percent of respondents reporting that they had lost money due to an online financial incident.

So this begs the question, why are people setting themselves passwords they cannot remember?

The answer comes a bit later in the report when Kaspersky reveals that 83 percent of respondents believe the most important service to set a strong password for is online banking.

We’d argue that any service where you might share personal information (Facebook included) should have a secure password but that’s neither here nor there.

Kaspersky advises internet denizens make use of password managers and secure cloud services to safeguard their online activities just a bit more.

Another good piece of advice is to regularly change your passwords. We see huge amounts of data find their way onto the internet far too often and if you’re using an old password you might find that password hidden in a data dump and soon you might be one of the 26 percent of people who lose money due to an online financial incident.

Be safe out there folks.

[Image – CC 0 Pixabay]