Jan 26, 2016

Identity Theft: So, How Much Is that Stolen Account Worth? and "What Are The Most Common Passwords?"

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Data from Trend Micro in a CNBC article found that Uber accounts are worth a lot more to criminals than credit card accounts:

Uber, PayPal and even Netflix accounts have become much more valuable to criminals, as evidenced by the price these stolen identifiers now fetch on the so-called “deep Web,” according to security company Trend Micro.

Here’s the value of a stolen account:

  • Paypal (with guarantee of $500 balance): $6.43 per account
  • Uber: $3.78/account
  • Personally identifiable information (PII): $1 to $3.30/account
  • Facebook: $3.02/account
  • Google Voice: $0.97/account
  • Netflix: $0.76/account
  • Credit card credentials: $0.22/account

Combine this question with “What are the most common passwords?” and you have a great kick-off to a lesson on how to protect your online accounts.  Oh, in case you were guessing, 123456 is the most popular password from 2015.

Here are some great follow-up questions to ask your students about this resource:

  1. What was most surprising to you about the list of the top 10 worst passwords?
  1. What are some steps a person can take to make their passwords more secure?
  1. Why do you think so many people use these “bad” passwords when they know it is risky to do so?
  1. Are there any passwords you currently use that you may need to change because they are too simple?

Want this resource and questions in slide format to use in class? Click here!

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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