Survey from Ping identity and Yubico highlights poor password practice

Despite the uptick in conversations about the importance of a secure password, half of the country’s workforce have a memorable word written in a notepad on their desk – with an astonishing 95% storing it on an easily accessible device.

And it’s this poor practice which has 92% of UK IT decision makers concerned about passwords being stolen, according to a joint Throw Away the Key: Our Passwordless Future survey from Ping Identity, the intelligent identity solution for the enterprise, and Yubico, the leading provider of hardware authentication security keys.

But despite many individuals noting down their so-called secure logins, IT teams must still contend with 97 incidents of employees being locked-out of a device due to a forgotten password each month – and this figure jumps to 113 when talking about consumers needing to regain access to an account.

And when the password is finally restored, Ping Identity found that the word or jumble of letters will be inputted into a device 11 times a day – which amounts to nearly 39,000 times over the average working life of a Brit.

Rob Otto, EMEA CTO at Ping Identity, said: “Passwords take up unnecessary time – dwindling productivity and costing money. And regardless of how strong one thinks their password is, it can always be exploited.

“This is why a passwordless future is key. Businesses must be willing to adopt this approach, because as soon as they do, they’ll see fewer data breaches and identity fraud cases protecting their corporate reputation while improving productivity and experience for consumers and employees alike.”

Veeam unveils the results of its 2023 Ransomware Trends Report at VeeamON 2023, showing cyber insurance is becoming too expensive and 21% of organizations unable to recover their data after paying the ransom.
WithSecure report highlights a security incident involving five different groups as evidence of an increasingly professional, service-oriented cyber crime industry.
The collaboration will give Colt’s customers deeper visibility into encrypted network traffic helping them protect their organisations and drive compliance.
Blockeras will use iDenfy’s ID verification and AML software to complete its fraud prevention system.
AI pioneer unveils new generative AI analyst designed to democratize security and help every user — from novice to expert — operate like a seasoned security professional.
The industry’s 'most comprehensive' as-a-Service and multicloud portfolio helps companies better manage their data and applications wherever they live.
Hornetsecurity’s 365 Permission Manager delivers effortless permissions management for Microsoft 365.
ThreatQ Platform and ThreatQ Investigations allow Thales to pioneer market-leading personalised threat intelligence services.