Password stupidity relates not only to not using a strong word, it can also be not taking proper care of passwords as explained in this video. Password stupidity can facilitate fraud and can cost a company a lot. In this case it was an accounting manager who tookadvantage of a weak #password system to defraud the organization by impersonating various personnel in the #accountspayable and #accounting departments.

This new fraud was due to unmitigated password stupidity that did not rely on weak passwords but rather mismanagement that resulted in total lack of controls and segregation of duties. The issue of passwords is an important one and yet not everyone takes it seriously. As you can see from this video, ignoring strong password practices can result in a costly disaster. You can protect your organization by making sure everyone sets strong passwords.

While just about everyone knows not to use passwords like password, 123456, their pets name etc., you would think they wouldn’t have to be warned about what I am very tactlessly calling, one of the stupidest frauds of all time. Stick around until the end when we do a quick review of what to do and not to do when selecting a strong password.

Link to Fraud and Employee Embezzlement: 5 FBI Caseshttps://youtu.be/etcOcZi0m_Y

Host: Mary Schaeffer (www.ap-now.com)