Password Pain is a Gain for Fraudsters

Here is an excellent article from I-Sight Case Management about Passwords (Create a Hacker Proof Password) and how important it is to take password protocol seriously in your organization. Let's

hope no one reading this is using one of the top 10 worst passwords listed below!

"Employees are the weakest link and strongest ally in the fight against fraud

Cybercriminals recently stole more than $1 million from a county hospital in Leavenworth, Washington, by hacking into the medical center’s accounting system. By the time the head office had noticed anomalies in three payroll files, more than $1 million worth of payroll transactions had been processed and deposited into the bank accounts of 96 “mules” and then siphoned off by the fraudsters.

When AP’s Twitter account was hacked and the hackers tweeted about explosions at the White House, the Dow Industrial Average lost about 140 points. Although the losses were quickly recovered, the incident highlighted the damage that can be inflicted with a hacked password. And because password theft is usually behind social media account hacking, security experts were quick to point out the importance of password security and make suggestions to strengthen security by using two-factor authentication.

90% of Passwords are Hackable

Top 10 of SplashData’s worst passwords of 2012
password
123456
12345678
abc123
qwerty
monkey
letmein
dragon
111111
baseball"

read the full article

by Dawn Lomer
Corporate Journalist
Article Published May 7, 2013