World’s Worst Passwords: Did Yours Make the List?

Password 123456

If you think using the word “password” for your actual password is clever, you’re wrong. Using “123456” is even worse.

That’s according to a list of the top 25 worst passwords from SplashData, a password management service. “123456” and “password” have the dubious distinction of topping the annual list as the two worst passwords since the list was first started in 2011.

SplashData used more than 3.3 million leaked passwords in 2014 to create its “worst of” list.

Although the lack of imagination in selecting “password” or “123456” (or even “qwerty”) for a password is almost laughable, it’s actually a serious issue. Selecting a good password is an important (and easy) way to help protect you from hackers and identity thieves.

“Passwords based on simple patterns on your keyboard remain popular despite how weak they are,” said Morgan Slain, CEO of SplashData. “Any password using numbers alone should be avoided, especially sequences. As more websites require stronger passwords or combinations of letters and numbers, longer keyboard patterns are becoming common passwords, and they are still not secure.”

The top 10 worst passwords, according to SplashData, are:

1. 123456
2. password
3. 12345
4. 12345678
5. qwerty
6. 123456789
7. 1234
8. baseball
9. dragon
10. football

Click here to see the rest of the top 25 list.

SplashData said there are two simple rules to creating a good password:

• Use eight characters or more, including numbers and letters, as well as mixed capitalization.
• Don’t use the same username and password combo for more than one website.

I can usually think of decent passwords. My issue is remembering them. Sigh.

Source: http://www.moneytalksnews.com/worlds-worst-passwords-did-yours-make-the-list/

Are You A Victim of Identity Theft?

How do you know that you are not a victim of identity theft? Have you checked your credit report?

In Malaysia you can get a Self Check Report from Credit Tip-Off System (CTOS), CTOS is a credit reporting agency in Malaysia established since 1990 under the ambit of the Credit Reporting Agencies Act 2010.

CTOS gathers information pertinent and relevant to their credit reporting business mainly from publications of legal proceedings in newspapers and government gazettes, the Companies Commission of Malaysia, the Insolvency Department of Malaysia, and subscriber contributions. It maintains information on legal proceedings against individuals and business entities in Malaysia. If there is a bankruptcy suit against an individual or a company, CTOS will collect and register this information into its database.

You can apply for a self-check report at CTOS through registration at their office or through online registration.

In your Self Check Report It is divided into 5 sections:

Section A: Identity Verification Guide

Section B: Internal List/Group Exposure

Section C: Directorships and Business Interests 

Section D: Summons, writs, bankruptcy proceedings, foreclosure, etc

Section E: Trade References

What to watch out for:

Check Section C to see if your name is listed as a director in a company. If you do not own a business it means your identity has been stolen and used by somebody else to run a business in your name. As a director of a company, you are responsible for the affairs of the company and liable for its misconduct.

When you are listed as a director in section C, your name most likely will appear in Section D as a bankrupt. The person who has stolen your identity is only interested to obtain loans from financial institutions. Once the perpetrator absconded with the money you are held responsible for his or her activity. Even if your name is not listed as director, a perpetrator still can “borrow” your name to obtain personal loans or car loans.

Usually, people will only discover their credit status to their surprise and horror when they apply for a loan or receive a bankruptcy proceeding against them.   

Go and obtain a copy of your credit report and straighten your record if it is inaccurate. 

Conclusion:

The credit report from CTOS is to find out if you are involved in any legal proceedings. If you are interested in your credit rating or creditworthiness you need to obtain another credit report from the Credit Bureau of Bank Negara Malaysia. The Central Credit Reference Information System (CCRIS)  is the computerized database maintained at the Credit Bureau.  A CCRIS report contains factual and historical information on the loan amount, interest, and charges outstanding on each loan (like housing loan, personal loan, hire purchase, credit card, and overdraft). It also shows the amount of each monthly payment to be in arrears to the bank for one year (12 months). By having this CCRIS report, the financial institutions can assess your credit rating by analyzing each loan by the loan balance and payment record of the loan.

7 Tips to Prevent Identity Theft

According to Wikipedia identity theft is a term used to refer to fraud that involves someone pretending to be someone else in order to steal money or get other benefits. The term is relatively new and is actually a misnomer, since it is not inherently possible to steal an identity, only to use it. The person whose identity is used can suffer various consequences when he or she is held responsible for the perpetrator's actions.

How do you prevent identity theft? Here are the top tips:

1. Your expired credit cards: Destroy not only your card but the chip as well. Cut your cards into pieces so that nobody can pick up any clues by rummaging through your trash.

2. Review your monthly statements: Check your monthly statement to ensure that all charges tally with your records. Notify the bank when you don’t receive your monthly bank or credit card statements.

3. Use your credit cards with care: Make it a habit that transactions are done in your presence; this is to avoid fraudulent uses of your cards.

4. Personal information: Do not give away personal information over the phone easily especially those relating to your credit cards and passwords.

5. Shop online with care: Shop only at secure sites, such as https:// with an ‘S’.

6. Check your credit status: Get your free credit reports online from Equifax, TransUnion, and Experian or CTOS in Malaysia.

7. Keep your personal documents in a safe place: Your personal identification card can be subjected to fraudulent uses if lost. Your lost card can be used to obtain a bank loan by someone else and the crook allows the loan to default. Eventually, you are declared bankrupt without your knowledge. That is why you need to check your credit status from time to time.

Handle your credit cards and personal identification card with care to avoid needless identity theft.