How sensitive data is exposed (and what you can do about it)

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-to-remember 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. [email protected]
20. !Welcome2022