INTHEBLACK February / March 2026 - Magazine - Page 57
C L O S I N G T H E B O O KS
The most common
passwords in finance
Weak, reused or default passwords can leave sensitive data
exposed and reputations at risk. Good password habits matter,
and some passwords should be avoided at all costs.
Words Sonakshi Babbar
IN THE CORPORATE WORLD, TRUST IS
everything. Clients expect their money
and personal information to be safe.
Even then, a recent Nord Security report
shows that some professionals in the
finance sector have passwords as simple
as “123456” or “password”.
The risks of weak passwords are
real. In 2022, a large Australian health
insurance company was hacked after
login details from a contractor were
stolen. In early 2025, several Australian
super funds reported losses when
hackers accessed member accounts.
In these cases, the hackers did not need
advanced skills — they simply exploited
predictable passwords. The Nord Security
report found that sequences such as
“12345678,” “user@123” and default
credentials like “demo” and “secret” are
still widely used in the finance sector.
Many of these passwords can be bypassed
in less than a second by malware.
THE PRICE OF CONVENIENCE
Weak password habits are common.
Many finance professionals juggle
dozens of logins every day for payroll,
reporting tools and client systems.
Reusing easy-to-remember passwords
can feel like the quickest fix.
Harvard Business Review provides
a behavioural explanation: even when
people understand the risks,
convenience often outweighs caution.
Indeed, LastPass reports that despite
two-thirds of respondents having
some form of cybersecurity education,
62 per cent almost always use the same
or a variation of a password.
PASSWORD HYGIENE MATTERS
Strong passwords sit at the heart of
good security. They protect sensitive
data, keep systems running smoothly
and maintain the trust clients place in
financial institutions.
Simple habits, such as enabling
multi-factor authentication and using
password managers, can make a big
difference. When these practices
become part of a daily routine, they help
accounting and finance professionals
lower the risk of cyber attacks and
reinforce the importance of the client
relationship. After all, password security
is not just a technical issue — it is
a matter of trust.
20 MOST
COMMON
PASSWORDS
IN FINANCE
Even in the finance sector,
predictable, easy-toremember or default
passwords often win out.
Here are the top 20 as listed
in the Nord Security report.
1. ABCDEF
2. 123456
3. user@123
4. 12345678
5. Mikeross69
6. secret
7. password
8. P@ssw0rd
9. demo
10. Okere@770!
11. 12345
12. Karra0915
13. 123456789
14. gadai123!
15. Sparsh@22
16. ccissexy
17. Hulela06*
18. abc123
19. samrawit@lms.com
20. !Welcome2022
intheblack.cpaaustralia.com.au 57
