According to Keeper Security’s most recent global study, which included 6,005 respondents from Singapore, Indonesia, Japan, Australia, New Zealand, France, the UK, the US, Germany, Austria, and Switzerland, 70% of Singaporeans struggle to manage their passwords, and 45% of them reuse passwords in an attempt to make things easier. According to the same study, 61% of Australians find it difficult to manage their passwords, and 40% of them reuse passwords in an attempt to make the process easier. Read more below.

SINGAPORE – The Keeper Security report, titled “Fortifying Cyber Resilience: Insights Into Global Cybersecurity Practices,” also disclosed that over one-third of Singaporeans fell victim to cyberattacks via text and phone last year, including phishing, vishing, and smishing, underscoring the growing prevalence of cybercrime in the country.

Overconfidence a problem?

Many people may have an excessive amount of faith in their cybersecurity procedures, especially when it comes to password management.

According to the survey, 89% of Australians have confidence in the security of their passwords, despite 67% of them having shared their passwords verbally, in writing, over the phone, or through text messaging. 72% of Australian respondents believe they know enough about cybersecurity, but nearly 2 out of 5 of them reuse their passwords on various platforms.

According to the survey, 90% of Singaporeans have confidence in the security of their passwords, despite 63% of them having shared their passwords verbally, in writing, over the phone, or through text messaging. 84% of Singapore respondents are confident in their knowledge of cybersecurity, but 45% of them reuse their passwords on various platforms.

Common Techniques for Managing Passwords

Dangerous password management techniques highlight even more the discrepancy between public perceptions of cybersecurity and the real status of cyber hygiene worldwide.

According to Keeper’s research, Australians most frequently utilize the following techniques to manage their passwords:

• Relying on memory (33%)
• Writing them down (22%)
• Storing them in a browser or phone notes app (11%)

And the following are the most popular password management techniques used by Singaporeans:

• Using memory alone (35%).
• Noting them down (20%)
• Keeping them on a phone note app or browser (19%)

Although many people believe their passwords are safe, their actions suggest that sophisticated tools and thorough training are needed. A person’s cybersecurity hygiene can be improved by using a password manager, with strong and distinctive passwords for each account, and turning on Multi-Factor Authentication (MFA) wherever possible.

By demanding several authentication techniques before giving access to an account, MFA offers an extra degree of protection to the system. This extra security measure helps guarantee that hackers will be prevented from accessing the account even in the event that a password is compromised.

Password Sharing

About half of Australian respondents (49%) acknowledge exchanging streaming website passwords despite crackdowns. A concerning 11% share PINs or bank account passwords, despite the rise of financial cybercrime. Other frequently used passwords that are shared include:

• Shopping accounts (13%)
• Personal emails (24%)
• Social media (17%)
• Work/school emails (11%)
• Work productivity platforms (13%)

Over at Singapore, one in three respondents from Singapore (34%) acknowledge exchanging streaming website credentials. 15% of them share bank account passwords or PINs. Other frequently used passwords that are shared include:

• Shopping accounts (25%)
• Personal emails (19%)
• Social media (16%)
• Work/school emails (24%)
• Work productivity platforms (33%)

Recommendations?

The many obstacles to improving global cyber hygiene highlight the need for solutions that will increase cyber resilience as well as education about the dangers of sharing and using weak passwords. Just 12% of respondents worldwide, according to Keeper’s data, are using secure password managers, despite the advice of top industry experts and government cybersecurity authorities that these tools be used for password generation, storage, and sharing. These are essential tools for securely managing identities and accounts on the internet.

According to Darren Guccione, CEO and co-founder of Keeper Security, “the data reveals a cybersecurity paradox where people feel confident in their cybersecurity knowledge, yet are frequently targeted by cyberattacks and scams.” “This discrepancy highlights the fact that knowledge is insufficient to reduce cyber risks; the use of password managers and adherence to best practices are essential for doing so.”

The Keeper paper highlights the continuous difficulties that cybersecurity professionals encounter when advising individuals and even businesses to promptly adopt precautionary measures to ensure their online safety. Protecting sensitive data and fighting off today’s sophisticated cyberattacks and online frauds depend heavily on empowering people via technology and education.

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