A new survey conducted by online payment provider PayPal has revealed many Australians are still unaware of the importance of good vulnerability management when conducting transactions over the internet.
According to a Fairfax Media article published on September 4, of the 1000 Australians who participated in the survey, 47 per cent claimed to have ten or more online accounts.
However more than two thirds of respondents, 67 per cent, said that they had less than six passwords between those accounts.
The PayPal study is not the first survey of this nature that has revealed many people underestimate the dangers of poor password selection and online account management.
Last month (August 23), Janrain and Harris Interactive released the results of their 2012 Online Registration and Password study. In that survey, 42 per cent of respondents admitted that they use less than five unique online passwords across all their online accounts.
Using multiple passwords for different accounts is an important part of reducing the risk of being affected by cybercrime, as it can prevent cybercriminals from gaining full access across all your online profiles should one account be compromised.
The PayPal survey also revealed that more than one fifth of respondents admitted to using personal information in their passwords.
This is considered poor online security protocol as it increases the risk that users will be impacted by cybercriminals gaining access to their accounts through social engineering.