CSID, the global leader in identity protection and fraud detection technologies and solutions, yesterday unveiled the initial results from the company’s survey of consumer password habits. In a world where security breaches make the headlines seemingly every day, CSID found that consumers are still careless about password creation, management and security, yet still believe they are safe, an alarming disconnect that can leave many consumers and businesses open to a data or security breach.

The CSID password survey uncovered that two-thirds (61 percent) of consumers reuse the same password for multiple sites. When a consumer reuses a password and login combination across multiple sites and one site is hacked, it leaves the other sites and the businesses behind them vulnerable to breach as well.

“Many businesses don’t fully grasp how consumers’ password habits can impact their security and safety,” said Adam Tyler, CIO of CSID. “Our survey results confirm what CSID has long suspected: that consumers tend to practice poor password habits, like reusing the same login information across multiple sites, without even realizing that those practices are dangerous. The survey makes it clear that businesses can’t rely on consumers to exercise secure password practices, and need to understand the potential impact of this behavior and how to mitigate risk.”

While most consumers (73 percent) state they are concerned with strength and security when creating passwords, they often overlook the security issues associated with reusing passwords across multiple sites. Additionally, 57 percent of customers say they prefer to create passwords that are easy to remember, versus making them secure. Yet, 89 percent of customers say they feel secure with their current password habits, indicating that consumers may not be aware that their passwords habits can open the door for hackers. While consumer education is an important priority, businesses also need to understand the impact of poor password practices; like the fact that if their customers use the same credentials on another site that is breached, they are at risk too.

CSID unveiled its survey results and recommendations on how businesses can mitigate the risk consumers’ poor password practices pose during a webinar titled “Mitigating the Risk of Poor Password Practices” on Wednesday, September 26. A white paper outlining the full survey results is now available at www.csid.com/passwords.

About CSID

CSID is the leading provider of global identity protection and fraud detection technologies for businesses, their employees, and consumers. With CSID’s advanced enterprise-level solutions, businesses can take a proactive approach to protecting the identities of their consumers all around the world. CSID’s comprehensive identity protection products advance from credit monitoring to include a full suite of identity monitoring services; insurance and full-service restoration; identity authentication and voice biometrics; and proactive breach mitigation and resolution. For more information, visit www.csid.com.