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Find all the latest news, stories, insights and tips from Paragon Bank.
The internet is becoming more and more vital in everyday life, and whether you like it or not, it’s becoming almost unavoidable not to have online accounts for banking, shopping and everyday admin. In fact, recent figures show that 77% of adults in the UK now shop online and 63% use internet bankingi.
As online accounts increase, it’s estimated that the average internet user now has 26 passwords to remember making it increasingly difficult to remember them all. It is important however, to ensure that you are not consistently using the same passwords, and that you make your passwords difficult to hack.
To help you minimise the potential risk of hackers, our IT Risk Management team have some useful tips to make your password as safe as possible:
To ensure we offer the highest security measures for our customers, we have put in to place certain processes.
These steps can be both inconvenient and time consuming, but customer security is a priority for us and they can help with protecting accounts.
Using numbers and symbols in your passwords can help increase their strength, but you still need to remember that using generic sequences can be just as easy to hack.
You might be surprised to see the simplicity of the top 10 most common passwords:ii
Although these passwords will be easy for the account holder to remember and therefore reduce the likelihood of having to be regularly reset, they aren’t secure.
For more information on password security, take a look at this recent article from The Telegraph.
iThe Office for National Statistics iiThe world's most common passwords revealed: Are you using them? - The Telegraph
Head officeParagon51 Homer RoadSolihullWest MidlandsB91 3QJ
Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551