New Study Shows Americans Fear Digital Threats and Lose $378 Per Cyberattack on Average

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Sep 28, 2022, 09:00 ET

Fear and awareness are not enough to motivate safe password practices.

CHICAGO, Sept. 28, 2022 /PRNewswire/ -- Keeper Security, the leading provider of zero-trust and zero-knowledge cybersecurity software, released a new study revealing how lazy password practices are leaving consumers vulnerable to cyberattacks.

Turn around your poor password security. Based on research from Keeper Security, the average cost of a cybersecurity attack is $378.

According to the research, almost 7 in 10 respondents report they would be concerned if they were hacked - but despite their growing awareness of digital threats, the study also shows Americans are ignoring basic password hygiene. This is leading to real-life breaches of personal accounts, with 55% of our respondents reporting they've been the victim of a cyberattack at least once. Of those, the average cost was $378 per attack.

"This new research shows consumers struggle to keep their passwords securely protected and fear the repercussions of a cyberattack," said Darren Guccione, CEO, and Co-founder of Keeper Security. "The good news: Keeper Security is committed to providing everyone-from college students to grandparents-with accessible and effective password protection solutions to secure and streamline their digital lives."

Additional findings:

No one wants to lose all their passwords

Resetting every password is a hassle - consumers know that.

36% of respondents said they would rather be stood up on a date than lose all their passwords.
34% of respondents would rather not watch TV for a week than lose all their passwords.
19% of respondents would rather miss a flight than lose all their passwords.
17% of respondents would rather get a root canal than lose all their passwords

Poor passwords are leaving consumers vulnerable to cyberattacks

Once a hacker breaks into an account, they gain widespread access to sensitive information.

56% of respondents reuse their passwords.
18% of respondents use a pet's name in their password.
55% of respondents have fallen victim to a cyberattack at least once.
32% of those said their social media logins were stolen as a result.
14% said their bank account details were stolen as a result.

The threat of potential hacks doesn't motivate password hygiene

Consumers fear the likelihood of being hacked

68% of respondents are concerned about what would happen if they were to be hacked.
46% of respondents said their response to being hacked would be anxiety.

They ignore potential solutions to quell cybersecurity worries

Almost a fifth of respondents only change their password if notified.
25% of respondents say, when thinking of passwords, memorability is most important to them.
Almost a third of respondents think they are likely to be hacked.

For more information on the findings, please visit https://www.keepersecurity.com/us-password-practices-report/.

Methodology:

Keeper Security's 2022 Password Practices Report was conducted by Censuswide, an independent market research consultancy, between August 11th and 15th, 2022. The survey took place via an online link with 4,007 nationally representative respondents (18+) in the UK and USA. Censuswide are members of the British Polling Council, abide by and employ members of the Market Research Society which is based on the ESOMAR principles.

About Keeper Security

Keeper Security, Inc. ("Keeper") is transforming the way organizations and individuals protect their credentials, secrets, connections and sensitive digital assets to significantly reduce the risks of identity security-related cyberattacks, while gaining visibility and control. Keeper is the leading provider of zero-trust and zero-knowledge security cloud services trusted by millions of people and thousands of organizations for password management, secrets management, privileged access, secure remote infrastructure access and encrypted messaging.

Keeper's products are the highest-rated in the industry across G2, Trustpilot, PCMag and U.S. News & World Report. For the last several years, Keeper has received several InfoSec Awards from Cyber Defense Magazine for its cybersecurity enterprise software. Keeper is SOC 2 and ISO 27001 certified, FIPS 140-2 validated and FedRAMP Authorized. Keeper is backed by Insight Partners, a leading venture capital and private equity firm with $90b AUM.

SOURCE Keeper Security