Keeper Security: UK Citizens Losing Millions From Personal Accounts Due to Poor Password Protection

British consumers are getting hit with cyberattacks, losing an average of £295 per hack

More than one in 10 Brits would rather get a root canal than lose their passwords

Lack of basic password hygiene is putting personal finances and sensitive data at risk

LONDON, September 28, 2022--(BUSINESS WIRE)--In an all-exposing report, Keeper Security, the leading provider of zero-trust and zero-knowledge cybersecurity software, has uncovered the UK’s password hygiene secrets, highlighting that half the respondents surveyed had been hacked at least once. The report explores shocking insights about the loss of sensitive information, along with millions of pounds being hacked and stolen from British consumers' digital wallets and accounts.

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Despite the growing awareness of hacking, Brits are ignoring basic password hygiene, unwittingly offering up information to hackers and scammers, leading to breaches of personal information and loss of funds. On average, Brits have £295 stolen, per cyberattack, as a result.

Would you rather?

In a dichotomy of what Brits would rather do compared to losing all their passwords, the report also reveals that respondents would rather not have access to TV for a week (23%), be stood up on a date (22%) or even get a root canal (12%), demonstrating the real concern for secure password protection.

Beware of hacking hotspots

The report revealed that across the country, there are particular areas highlighted as ‘hacking hotspots’. In Cardiff, 23% of respondents have experienced some form of hacking, followed closely by those in Birmingham and Leeds (both 18%), compared to the UK average of 14.9%. As widespread concern of being hacked continues to sweep the UK, consumers must take the appropriate steps to improve their digital security with stricter password hygiene.

Employing basic password hygiene

Even though many smartphones and computers notify users of data breaches, with prompts to change weak or ineffective passwords, Brits are ignoring these direct pleas for more secure solutions. Across the UK, 15% of people say they go about their daily lives knowing their passwords are compromised! With only 1 in 10 (10%) respondents changing their password every 3 to 5 months, the numbers of accounts hackers can infiltrate, and the personal information they may get, could lead to irreparable harm.

However, regularly changing passwords is not the only concern, with Brits showing a complete lack of security judgement when creating passwords. As a nation of animal lovers, pets names came out on top of cryptic concepts, with users' birth dates closely following. But with pets' names and birthday reminders plastered across social media profiles, this leads to the question of whether UK consumers are making it far too easy for hackers to gain access with such simple password configurations.

Cracking passwords

Considering the number of accounts and logins used on a daily basis, it’s also no surprise that nearly half (49%) of UK respondents use the same password for multiple sites or apps! This highlights the importance of proper password protection, as once the code is cracked for one account’s password, this grants widespread access to other accounts and even more sensitive information.

"This new research shows consumers are willfully turning a blind eye to simple password hygiene as they struggle to keep themselves securely protected," said Darren Guccione, CEO and Co-founder of Keeper Security. "It’s time for Brits to take control of their cybersecurity again. Using a trusted password management system is a simple first step to streamlining and securing their digital lives."

For more information on the findings of this all-exposing report, please visit https://www.keepersecurity.com/uk-password-practices-report/

Methodology:

Keeper Security’s 2022 Password Practices Report was conducted by Censuswide, an independent market research consultancy, between August 11th and 15th, 2022. The survey took place via an online link with 4,007 nationally representative respondents (18+) in the UK and USA. Censuswide are members of the British Polling Council, abide by and employ members of the Market Research Society which is based on the ESOMAR principles.

About Keeper Security

Keeper Security, Inc. ("Keeper") is transforming the way organizations and individuals protect their credentials, secrets, connections and sensitive digital assets to significantly reduce the risks of identity security-related cyberattacks, while gaining visibility and control. Keeper is the leading provider of zero-trust and zero-knowledge security cloud services trusted by millions of people and thousands of organizations for password management, secrets management, privileged access, secure remote infrastructure access and encrypted messaging.

Keeper's products are the highest-rated in the industry across G2, Trustpilot, PCMag and U.S. News & World Report. For the last several years, Keeper has received several InfoSec Awards from Cyber Defense Magazine for its cybersecurity enterprise software. Keeper is SOC 2 and ISO 27001 certified, FIPS 140-2 validated and FedRAMP Authorized. Keeper is backed by Insight Partners, a leading venture capital and private equity firm with $90b AUM.

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Contacts

Josh Paterson – Archetype
Keeper@archetype.co
+447887406796