Skrill

June 29, 2011 07:35 ET

Refresh My Memory: Baffled Brits Struggle to Stay Protected

- Brits forced to remember more than 10 pieces of security information every day

- Over a third struggle to remember their personal security information

LONDON, UNITED KINGDOM--(Marketwire - June 29, 2011) - From passwords to PINs and codes, every day Brits are forced to remember more than 10 individual pieces of security information, a new study shows today.

Research by Skrill, the company behind online payments provider Moneybookers, has found that daily requests for personal security information leave us so baffled, one in three (33%) resort to writing them down or forget them altogether (34%).

The pressure to think up a different password each time means Brits are becoming increasingly lazy and over half admit they use the same password for everything (55%).

Most often the passwords we use are something generic like the name of a pet (12%), our date of birth (10%) or our mother's maiden name (9%). Such generic passwords are simple for experienced fraudsters to work out as they become increasingly devious with the scams they use to get hold of our personal information.

Of all the information we're required to remember, the majority struggle with internet banking details (18%) and think these are the hardest to remember. The passwords requested by shopping websites (16%) and those needed to get into work computers (7%) were also singled out for being hard to remember.

Martin Ott co-CEO of Skrill Holdings said: "Passwords, pins and codes go a long way to help protect people. Consumers may find it annoying to be constantly asked to prove who they are, but unfortunately there will always be scammers out there attempting to trick people into handing over their hard earned cash."

There are however a number of ways to make sure we're protected. From taking the time to choose a selection of passwords that are both easy to remember and not completely obvious, to new systems designed to make our lives easier such as opening a Digital Wallet when shopping online.

To help people stay protected and help combat fraud, Skrill has put together some top tips for creating passwords and remembering security information:

  1. Use tricks to create easily memorable passwords. Choose two words you'll remember and interweave the letters. So if you chose 'money' and 'bookers', your password would be 'mboonoekyers'.
  2. To add security and help create a password for different websites, combine the service name with a word of your choice. So if 'safety' is your word, your eBay password would be 'esbaafyety'.
  3. Try a password manager such as KeePass or 1Password. You can put all your passwords in one encrypted database, which is locked with one master password.
  4. Collate all your payment methods into one with a Digital Wallet such as Moneybookers. This lets you pay for goods online and you'll only need to enter your password once. So you can pay securely with your option of choice (credit/debit card, instant bank transfer) without revealing your bank or credit card details to a third party.

If you have any doubts at all, for more information on different types of scams or for more advice take a look at: www.moneybookers.com/ads/moneybookers-scam-information/

Notes to Editors

Research conducted by OnePoll amongst a sample of 1,000 adults.

About Skrill

Skrill Holdings operates Moneybookers.com, one of Europe's largest online payments systems and among the world's largest independent e-wallet providers with over eighteen million account holders. This simple e-wallet enables any customer to make online payments conveniently and securely without revealing personal financial data, as well as send and receive money transfers cost-effectively simply by using an email address. Moneybookers' worldwide payment network offers businesses access to over 100 payment options in over 200 countries and territories through just one integration.

Founded in 2001, Moneybookers was the first e-money issuer to become authorised and regulated by the FSA. In 2007, Investcorp Technology Partners undertook the buyout of Moneybookers from its founders. Today more than 90,000 merchants are registered with Moneybookers.com, including global partners such as eBay.com, Skype and PerfectWorld.

In February 2010 The Sunday Times Deloitte Buyout Track 100 league table ranked Moneybookers as the Number 1 fastest growing, private equity-backed firm in the UK based on profits.

Contact Information