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Nearly half of all British Internet users use the same password to log into their online banking account or social network, leaving them open to fraud, according to a new report from insurer CPP.
The report found that 46 percent of Britons use the same password to log into their banking, shopping and social networking sites, while 54 percent admit to using variations of the same password.
The survey of 1,661 British Internet users found nearly 40 percent admit that at least one other person knows their passwords and 39 percent believe these people have accessed their online accounts.
One in ten people have had their Internet accounts accessed by fraudsters, with 57 percent of the attacks happening in the last year.
In addition, 18 percent said they use their pet's names as passwords and 12 percent use memorable dates such as their birthday.
The majority (68%) says it's too difficult to remember numerous passwords while 17 percent are concerned about forgetting a password and not being able to login.
"No sensible person would use the same key for their house, car and garage," said Sarah Blaney, identity theft expert at CPP.
"In the same way, we shouldn't use the one password for everything. If possible people should use multiple passwords with a combination of letters and numbers, which should be difficult to crack."
View All Articles by Mike Sachoff
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Mike is a staff writer for WebProNews.
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