New study shows online banking passwords aren't secure enough - WFSB 3 Connecticut

New study shows online banking passwords aren't secure enough

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Researchers at the University of New Haven said your Facebook account could be more secure than your online bank account. (WFSB) Researchers at the University of New Haven said your Facebook account could be more secure than your online bank account. (WFSB)
NEW HAVEN, CT (WFSB) -

Researchers at the University of New Haven said your Facebook account could be more secure than your online bank account.

The university’s Cyber Forensic Group dug into the security of the all-important accounts, and they said what they found was startling.

The group studied 17 banks and found six with what they call “weak password handling.” That’s far below what Facebook or Twitter requires.

“Facebook, when you sign on to Google, they do require case sensitive passwords and special characters,” said researcher Walter Gordillo.

According to the study, Chase, Wells Fargo, CitiBank, Capital One, Webster First Federal Credit Union, and BB&T Bank all don’t require passwords to be case sensitive.

Gordillo explains why that makes it easier on a hacker.

“It makes it a lot easier for someone to guess that password. You're talking about 26 characters. If you add in case sensitive, it would be 52 on top of that,” Gordillo said.

“You would think that the security level would be much higher for something like an online banking account,” said Liz Urbanucci, of Wethersfield.

Since security is ultimately in the hands of the bank, researchers said consumers can protect themselves by adding more special characters, like exclamation points or question marks to their passwords, or anything that can make it a little more unique.

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