More than a quarter of Brits change online passwords less than once a year

New online research commissioned by credit information provider, Equifax, reveals that how we manage our passwords could mean we are leaving an ‘open door’ for fraudsters.

According to the responses of over 2,000 people, more than a quarter (27%) change their online passwords less than once a year and 23% never change their passwords without being prompted. It appears the over 55’s are the most lax – with 29% of them admitting to infrequently updating their passwords.

Lisa Hardstaff, identity fraud expert at Equifax, believes that the fact that people now have so many passwords to remember could be a reason why people don’t regularly update their passwords.  “Our research revealed that nearly a third of consumers (31%) have more than five passwords. This demonstrates that people in the UK are definitely doing the right thing in ensuring that if a fraudster accesses one of their passwords they can’t access all their other accounts by using the same password.  However, good practice is to ensure that you regularly change your passwords and worryingly over a quarter of Brits do that less than once a year.

 

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