About 17 percent Indians keep important financial passwords insecurely: Survey

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A survey conducted by LocalCircles found that one-third of Indians (about 17 per cent) keep important financial passwords insecure. The survey found that about 17 per cent of people store important passwords of ATM, debit or credit cards, bank accounts and app stores in an ‘insecure’ manner.

Mumbai: One in every six Indians (about 17 per cent) keeps important financial passwords insecure, a recent survey published on Tuesday has concluded. The survey found that about 17 per cent of people store important passwords of ATM, debit or credit cards, bank accounts and app stores in an ‘unsafe’ manner, including in their contact lists or notes on mobile phones, increasing the risk of data theft. The survey, conducted by LocalCircles, covered over 48,000 respondents from 367 districts. It said 34 per cent of people said they share their passwords with others.

In May this year, the Reserve Bank had revealed a 300 per cent rise in bank frauds in the last two years, LocalCircles said in a statement. According to the survey, nearly two-thirds of people said they keep important passwords to themselves, while the remaining 34 per cent said they share it. The survey said respondents reported that a large portion of password sharing happens with one or more family members, while some also share it with household or office staff and friends. The survey also said 53 per cent reported that either they themselves or a member of their immediate family had experienced financial fraud in the last five years.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.



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