PERSONALISED INVESTMENT MANAGERS

Secure your Financial Accounts: Cyber Security

20 September, 2021


          
            Secure your Financial Accounts: Cyber Security

It’s no secret that passwords are your only protection from cyber criminals. The importance of using secure, unique passwords is getting higher as we entrust personal information to organizations and businesses that can fall victim to data breaches and password leaks.

Although there may be little you can do to prevent a large-scale data breach, you can take the precaution of making sure you craft strong passwords for your online accounts.


How to create a strong password?

TIMES IT TAKES A HACKER TO BRUTE FORCE YOUR PASSWORD

Number of Characters Number Only Lowercase Letters Upper and Lowercase Letters Numbers, Upper and Lowercase Letters Numbers, Upper and Lowercase Letters, Symbols
4 Instantly Instantly Instantly Instantly Instantly
5 Instantly Instantly Instantly Instantly Instantly
6 Instantly Instantly Instantly 1 Sec 5 Secs
7 Instantly Instantly 25 Secs  1 Min 6 Mins
8 Instantly 5 Secs 22 Mins 1 Hour 8 Hours
9 Instantly 2 Mins 19 Hours 3 Days 3 Weeks
10 Instantly 58 Mins 1 Month 7 Months 5 Years
11 2 Secs 1 Day 5 Years 41 Years 400 Years
12 25 Secs 3 Weeks 300 Years 2k Years 34k years
13 4 Mins 1 Year 16k Years 100k Years 2m Years
14 41 Mins 51 Years 800k Years 9m Years 200m Years
15 6 Hours 1k Years 43m Years 600m Years 15bn Years
16 2 Days 34k Years 2bn Years 37bn Years 1tn Years
17 4 Weeks 800k Years 100bn Years 2tn Years 93tn Years
18 9 Months 23m Years 6tn Years 100tn Years 7qd Years

4. Modify easy-to-remember phrases

One tip is to think of a passphrase, like a line from a song, and then use the first letter from each word, substituting numbers for some of the letters. For example: “Money Money Money It’s a rich man’s world” could become “3Mi@rmWor”.

5. Don’t write them down

Never write down or hide passwords in a note or in your diary. Stories about hackers getting passwords by rummaging through trash, also known as dumpster-diving, are absolutely real.

6. Accessing publicly

When you type your password in a public setting, make sure no one is watching or looking over your shoulder. Avoid public network / devices to enter your password. It could be stored without your knowledge.

7. Use secure password managers

Password managers help by automatically filling in the information for you on some websites. Make sure you are using something substantially better than the google password manager.

8. Change passwords on a regular basis

Passwords for your financial accounts should be changed every month or two. Computer login passwords should be changed at least once a quarter. Using the same password for longer periods could put your information at risk if a data breach occurs.

9. Use different passwords on different accounts

If you lose one, you don’t want to automatically lose the other as well.

What is two-factor authentication, and how does it work?

Two-factor authentication is a method of verifying your identity that adds a second layer of security to your account password. Types of two-factor authentication can include any of the following:

Extra security for your passwords

With two-factor authentication, you get an extra layer of security that hackers may not be able to crack as easily, because the criminal needs more than just the username and password credentials. You may already be using 2FA without realizing it. Your ATM card is an example, combining your physical card and your PIN.

 


Conclusion:

Remember the following points for password usage or creation.

Do's Don'ts
  • Use special characters.
  • Creat longer passwords
  • Modify easy-to-remember phrases
  • Use secure password managers and 2FA
  • Change passwords on a regular basic
  • Use real words / names
  • Write the password down
  • Access financial sites in public
  • Use name passwords on different accounts
  • Use your password on strange devices
  •  

    2FA is also vulnerable. If hacker’s access your email account, a reset of password from the “Lost/Forgot password” link bypasses the 2FA and allows them to create a new password, locking you out of your account. Monitor your email account for messages requesting password changes.

    MIMI PARTHA SARATHY
    Managing Director,
    Sinhasi Consultants Pvt. Ltd.


    Your financial health is what you are working towards. It is always better to be secure than sorry. Much like in the world of investment planning, where our financial planners work, to help you maximize your returns so that the future is secured.

    Reach out to us

    if you would like to better secure your future. Quite contrary to the subject of this blog, our password is very insecure.

                  


    Bibliography

    How Passwords Get Hacked, SUCURI BLOG | Help secure your accounts with these strong password tips, NORTON | How Secure Is My Password? SECURITY.ORG


    It’s no secret that passwords are your only protection from cyber criminals. The importance of using secure, unique passwords is getting higher as we entrust personal information to organizations and businesses that can fall victim to data breaches and password leaks.

    Although there may be little you can do to prevent a large-scale data breach, you can take the precaution of making sure you craft strong passwords for your online accounts.


    How to create a strong password?

    TIMES IT TAKES A HACKER TO BRUTE FORCE YOUR PASSWORD

    Number of Characters Number Only Lowercase Letters Upper and Lowercase Letters Numbers, Upper and Lowercase Letters Numbers, Upper and Lowercase Letters, Symbols
    4 Instantly Instantly Instantly Instantly Instantly
    5 Instantly Instantly Instantly Instantly Instantly
    6 Instantly Instantly Instantly 1 Sec 5 Secs
    7 Instantly Instantly 25 Secs  1 Min 6 Mins
    8 Instantly 5 Secs 22 Mins 1 Hour 8 Hours
    9 Instantly 2 Mins 19 Hours 3 Days 3 Weeks
    10 Instantly 58 Mins 1 Month 7 Months 5 Years
    11 2 Secs 1 Day 5 Years 41 Years 400 Years
    12 25 Secs 3 Weeks 300 Years 2k Years 34k years
    13 4 Mins 1 Year 16k Years 100k Years 2m Years
    14 41 Mins 51 Years 800k Years 9m Years 200m Years
    15 6 Hours 1k Years 43m Years 600m Years 15bn Years
    16 2 Days 34k Years 2bn Years 37bn Years 1tn Years
    17 4 Weeks 800k Years 100bn Years 2tn Years 93tn Years
    18 9 Months 23m Years 6tn Years 100tn Years 7qd Years

    4. Modify easy-to-remember phrases

    One tip is to think of a passphrase, like a line from a song, and then use the first letter from each word, substituting numbers for some of the letters. For example: “Money Money Money It’s a rich man’s world” could become “3Mi@rmWor”.

    5. Don’t write them down

    Never write down or hide passwords in a note or in your diary. Stories about hackers getting passwords by rummaging through trash, also known as dumpster-diving, are absolutely real.

    6. Accessing publicly

    When you type your password in a public setting, make sure no one is watching or looking over your shoulder. Avoid public network / devices to enter your password. It could be stored without your knowledge.

    7. Use secure password managers

    Password managers help by automatically filling in the information for you on some websites. Make sure you are using something substantially better than the google password manager.

    8. Change passwords on a regular basis

    Passwords for your financial accounts should be changed every month or two. Computer login passwords should be changed at least once a quarter. Using the same password for longer periods could put your information at risk if a data breach occurs.

    9. Use different passwords on different accounts

    If you lose one, you don’t want to automatically lose the other as well.

    What is two-factor authentication, and how does it work?

    Two-factor authentication is a method of verifying your identity that adds a second layer of security to your account password. Types of two-factor authentication can include any of the following:

    Extra security for your passwords

    With two-factor authentication, you get an extra layer of security that hackers may not be able to crack as easily, because the criminal needs more than just the username and password credentials. You may already be using 2FA without realizing it. Your ATM card is an example, combining your physical card and your PIN.

     


    Conclusion:

    Remember the following points for password usage or creation.

    Do's
  • Use special characters.
  • Creat longer passwords
  • Modify easy-to-remember phrases
  • Use secure password managers and 2FA
  • Change passwords on a regular basic
  • Don'ts
  • Use real words / names
  • Write the password down
  • Access financial sites in public
  • Use name passwords on different accounts
  • Use your password on strange devices
  •  

    2FA is also vulnerable. If hacker’s access your email account, a reset of password from the “Lost/Forgot password” link bypasses the 2FA and allows them to create a new password, locking you out of your account. Monitor your email account for messages requesting password changes.

    MIMI PARTHA SARATHY
    Managing Director,
    Sinhasi Consultants Pvt. Ltd.


    Your financial health is what you are working towards. It is always better to be secure than sorry. Much like in the world of investment planning, where our financial planners work, to help you maximize your returns so that the future is secured.

    Reach out to us

    If you would like to better secure your future. Quite contrary to the subject of this blog, our password is very insecure.

                  


    Bibliography

    How Passwords Get Hacked, SUCURI BLOG | Help secure your accounts with these strong password tips, NORTON | How Secure Is My Password? SECURITY.ORG


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