From Password to Payday: How Weak Credentials Endanger Financial Systems
Financial Passwords Under Siege
Despite managing billions of transactions, many banks, fintechs, and accounting firms still rely on weak and guessable passwords. A research initiative by NordPass uncovered that these institutions employ simple credentials such as “123456”, “P@ssw0rd”, and even “Mikeross69” to guard sensitive systems.
Key Findings
- Passwords were detected across banking dashboards, employee email logins, and internal demo accounts.
- Default and personal names remain unchanged, exposing critical data to cybercriminals.
- Financial services rank as one of the world’s most targeted industries, yet many passwords fail basic security audits.
Top 20 Frequently Used Passwords
- ABCDEF
- 123456
- user@123
- 12345678
- Mikeross69
- secret
- password
- P@ssw0rd
- demo
- Okere@770!
- 12345
- Karra0915
- 123456789
- gadai123!
- Sparsh@22
- ccissexy
- Hulela06*
- abc123
- samrawit@lms.com
- !Welcome2022
Why This Matters
Weak credentials are the first line of attack for cybercriminals. When a password is compromised, attackers can leak vast amounts of data, tarnish a firm’s reputation, and trigger regulatory penalties.
Improving Password Hygiene
- Exclude personal names, birth years, or company references. These are easily discovered.
- Educate every team level. From analysts to executives who value modern password best practices.
- Employ a business‑grade password manager. Securely store unique passwords and eliminate the tendency to reuse or scribble them.
- Activate Multi‑Factor Authentication (MFA). Even if a password is compromised, MFA can clamp down on unauthorized access.
