73 percent uses bank password elsewhere

A study by Internet security firm Trusteer found that a surprisingly large number of people put their bank account at risk by re-using their account details on other website. The firm claims as much as 73 percent of Internet bank clients use online banking passwords on other sites, and that 47 percent even re-uses both their username and password.

Some 73 percent of Internet bank clients share online banking password with non-financial sites, and 47 percent re-use both, their online banking user name and password, British firm Trusteer said, citing a sample of more than 4 million users.

"Our findings were very surprising, and reveal that consumers are not aware, or are choosing to ignore, the security implications of reusing their banking credentials on multiple websites," said Trusteer's Chief Technology Officer Amit Klein.

Source: Reuters