South Africans must stop using their social media passwords for bank accounts — Armata Security

[Hanno Labuschagne]

South Africans must stop using their social media passwords for bank accounts — Armata Security

Armata Cyber Security head of technology and innovation Richard Frost has warned that many South Africans are using the same passwords for social media and banking, putting their bank accounts at risk.

Speaking to Cape Talk, Frost said people who use the same username and password for social media as they do for banking have effectively provided one key to open all the doors to their personal information.

 

[Athos]

Boomers...

 

[Lupus]

Pffft my socials is Pa55w0rd123 while my banks is pA55word321 see different sigh.

 

[ISP cash cow]

Yeah I have a couple of common passwords across my social media platforms, but my password for my bank is completely different, and I only use it for my banking profile

 

[DrJohnZoidberg]

Yeah I have a couple of common passwords across my social media platforms, but my password for my bank is completely different, and I only use it for my banking profile

Why not use a password manager and eliminate using common passwords anywhere?

The only password I don't have in my password manager is my online banking, just to be extra safe Still unique though.

 

[Jam Sandwich]

Damnit...I've been caught out...

 

[Swa]

Who does that?

 

[ISP cash cow]

Why not use a password manager and eliminate using common passwords anywhere?

The only password I don't have in my password manager is my online banking, just to be extra safe Still unique though.

I do have a password manager (I use Keeper) and use different passwords for all my different (non SM platforms). I use a similar password for just my social media, like MYBB, Facebook and X. They not the same they are just similar.

Anything tied to my bank account gets a unique password and kept in Keeper.

 

[Smiggles]

If your bank still relies on a password you need to move to a proper bank.

 

[Grubscrew]

I have two different passwords.
ihavenoMoney123 and BigRichard69, good luck for the hackers to figure that one out.

 

[rustypup]

If your bank still relies on a password you need to move to a proper bank.

After the incident, Standard Bank started advising me to *randomise my name*

I have doubts as to their security posture