2018-05-09 12:00:14 Running a Business English Find out why you shouldn't recycle your passwords for work or personal use, and learn how hackers take advantage of recycled passwords to... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2018/04/Business-Owner-Worried-Password-Stolen.jpg https://quickbooks.intuit.com/ca/resources/business/different-passwords-cyber-security/ Small Business Tip: Use Different Passwords to Mitigate Risk and Improve Cybersecurity

Small Business Tip: Use Different Passwords to Mitigate Risk and Improve Cybersecurity

1 min read

Using the same password for multiple sign-ins can seem like a great idea. After all, if you keep recycling passwords, you’ll never forget your sign-in details, right? While that may be true, reusing passwords can be a nightmare from a cybersecurity perspective.

Thieves and hackers know that people use the same passwords, and they use that fact to their advantage. They get on sites that aren’t that secure, steal the login details and passwords, and then use that information to get into bank accounts or other valuable platforms. They also sell the information online, and in fact, some estimates claim there are close to 2 billion stolen passwords for sale on the black market.

To protect yourself and your business, you may want to avoid using the same passwords repeatedly. Ideally, you should choose a unique password for every account that you use. To prevent hackers from guessing your password, consider blending letters, numbers, and symbols, and make sure to avoid using publicly available details. For instance, if you have your birth date and a captioned picture of your dog on your public social media profile, that means a password combining your dog’s name and your birth date is probably not that secure. Instead, try using lesser-known details about your life. Beyond picking unique passwords, make sure to change them on a regular basis, and if you have employees, insist they follow these rules as well.

Your bank account details, proprietary business information, accounting data, and countless other pieces of information are either online or in password-protected databases. If you really want this information to be secure, you need to devote a little time to password safety. Although it can be challenging to remember multiple passwords, from a cybersecurity perspective, it’s worth it in the long run.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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