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Cyber Heists Expose Flawed Password System

With high-profile cyber attacks on the rise, a spotlight shining on passwords has revealed a faulty system rampant with potential loopholes and a traditional password-username mechanism that has fallen painfully behind the times.As more and more of people's lives move online, it has never been more imperative to adopt complex passwords and diversify them across all accounts. Yet, 74% of Internet users still use the same password across multiple websites, according to data from McAfee.The misstep has been at the helm of a string of recent market-moving cyber attacks, including a takeover of the Associated Press's Twitter account last month that sent the stock market spiraling 143 points on false reports of a bombing at the White House.Last week, the Financial Times ' Twitter account was briefly in the hands of Syrian hackers , and the accounts of reporters at the New York Times and the social media accounts of Burger King (NYSE:BKW) and Jeep have also fallen victim to varying degrees of...

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