Social Networking and Password Thievery

Social networking can be a useful communication tool. It can also be an easy way for thieves to guess your passwords. I never really thought about this, but in conversation with an IT guy, it came up that someone has guessed his friends’ username and password for his banking site. The thief proceeded to transfer the money to his own accounts. (No one said thieves are super smart. He did get caught when the bank traced the transfer. But he was at least smart enough to guess the password based on social networking activity.)

How did this happen? First, the person used the same username on his financial sites as he did on most bulletin boards and social networking sites. The thief didn


[Continue Reading at]

This entry was posted in Personal Finance and tagged , , , , , , . Bookmark the permalink.

2 Responses to Social Networking and Password Thievery

  1. pen says:

    good post. I do follow most of this advice.

  2. John Williams says:

    Other suggestions:
    Use varied answers for you security questions. Using your school mascot in place of the school name.
    Use substitute characters in your security questions.
    Some financial institutions will let you have a code sent to your phone for verification. Set this as your default security option.

Leave a Reply

Your email address will not be published. Required fields are marked *