We're Putting Ourselves at Risk

Ever since 14th February, 2006 we’ve been typing in PIN numbers every time we make a purchase on our credit or debit cards. While this system was introduced as a means of clamping down on credit card fraud a new study by finance agency @www has suggested that this may not actually be the case.

Their survey found that many Brits are compromising their personal security simply because they're unable to remember the huge number of passwords and PINs they need to get by. With the average UK adult having to remember over 15 security codes and one in ten of us needing to recall over 50 it's hardly surprising that we're feeling overwhelmed.

Many of us find it so difficult to memorise this 'sensitive' information that we've resorted to writing it down, with one in four of us carrying our PINs and passwords around with us in their wallets or handbags. This is a particularly risky strategy as, should you be unfortunate enough to have either stolen, your bank will hold you liable for any losses that occur.

We're falling down at another hurdle with over 60% of us using a single security code to access a number of different accounts. While this does make things a little easier to remember, and is a better approach than simply writing your password down, if someone manages to gain access to one of you're accounts you've effectively given them carte blanch to access them all.

To make things difficult for the fraudsters of this world the security codes we use to protect our personal accounts should be as random as possible with a different PIN or password being used for each.

If you do suspect that someone has discovered your passwords or PIN numbers it's essential that you contact your financial provider and request for them to be changed as soon as possible.

Compare Credit Cards via money.co.uk