![]() The criteria used to assess password security are:ĭoes the bank allow passwords that are at least 40 characters?Įxperts advise passwords be strong and unique, with strength being best determined by long, random passwords. Read on to find out whether they’ve done so. Of course, banks need to enable use of these tools as well. One of the best strategies for protecting your financial information is utilizing a strong and unique password and leveraging other tools such as password managers, authenticator apps, and security keys to further enhance security. While it’s impossible for us individually to control cyber criminal behavior, we can control our password practices. It’s likely that the parade of high-profile data breaches - JPMorgan Chase in 2014 Capital One in 2019 - helped propel this rule forward. banking regulators ordered banks to report ‘cybersecurity incidents’ to their primary government regulator within 36 hours. ![]() As consumers can attest, banking password breaches can lead to disruptive inconvenience at best and life-alerting financial loss at worst. We narrowed our research list to the top 5 banks in the United States ranked by assets held, which we identified as:įrom there, we determined criteria to evaluate password security friendliness, tested the criteria, and now present the findings with a numerical grading system.įinancial data, like other personally identifiable information such as social security numbers in the U.S., is incredibly sensitive. Does your bank allow you to easily use strong and unique passwords? Following an end user research-driven approach, we recently set out to answer that question.
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