CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Passwords alone are not enough to prevent fraud, says Equifax
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


Passwords alone are not enough to prevent fraud, says Equifax PDF Print E-mail
Monday, 13 June 2016
Following the news that millions of Twitter passwords have been leaked on the dark web, John Marsden, Head of ID and Fraud at Equifax, explains the dangers the population face as technology continues to evolve at an alarming rate:  

“Passwords are toppling like dominos. This year alone, companies such as Pinterest, LinkedIn, Tumblr and Dropbox have all been hacked. As hackers crack more and more passwords, their algorithms improve and the speed in which they breach accounts increases; instead of taking weeks or months to crack 1% of passwords, it can now only take a few days to breach 90% of passwords. This is not hacking the company, but simply running high volumes of data and potential outcomes such as passwords through big data systems.

“Any breach can cause a ripple effect. Once in, hackers can take over online banking, steal identities and locate further personal details. As soon as data is stolen and shared online, often on the dark web, it can’t be treated as a one-time event; it never truly vanishes and can spread globally fast. Previous breached data shows exactly how people at a global and individual level set passwords.

“One of the major issues is that there are only so many unique passwords that humans can cope with. It is near impossible to remember multiple passwords using combinations of letters and symbols such as 5Ge8**233!!$. Data appearing on the dark web has proven there are very few new passwords created as people are re-using the same combinations over and over again.

“It’s difficult to determine what will actually stop this cycle. One possible answer may be for companies to introduce a second layer of authentication processing, such as device recognition, to help build the necessary barriers to keep data safe. Whatever the solution, one thing is clear; we need to act now before it is too late.”
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards


Tuesday 3 October - Guoman Tower Hotel, Central London

Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.

To book your place to attend, please contact Alison Lucas.


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197