Multi-Factor Authentication (MFA) is one of the best ways to protect your accounts, but if it’s not available, you should use a strong password or passphrase.
What’s a Passphrase?
A passphrase is a series of random words that make sense to you but are unlikely to be guessed by anyone else. For example, “honey brick stream pretzel” or “pink hut ground boat.” The longer the passphrase, the harder it is for scammers to crack. And to make it even more difficult to crack, you can remove the spaces and include numbers, characters and upper- and lower-case letters. For example, “PinkhutGroundboat2@”.
A unique, strong passphrase can better protect your account compared to a simple password.
Tip: Do not use words that may be easy to find or guess such as the names of friends, family members or children or your home address.
Tips for creating a strong passphrase.
Make it long.
Aim for at least four random words, totalling 14 characters or more. Longer is better! Defence Bank members can use extra-long passphrases for logging into Online Banking with up to 40 characters available for better security.
Be unpredictable.
The less predictable your passphrase, the better. A passphrase in the form of a lyric, quote or sentence, like 'I’d like extra cheese’, uses spaces and punctuation, which adds complexity. However, a sentence could also be predictable, because the language you use will have grammar and punctuation rules to follow, so when taking this approach mix it up a little bit by removing the spaces and substituting letters with numbers or other characters that make sense to you. For example “I’dlike3xtrachee$e!”.
Using a random mix of unrelated words is far more unpredictable and will produce a stronger passphrase. If you need help coming up with a random set of works, there are several tools available on the internet that can help. Or you could open random pages in a book to select unrelated words. There are many ways to create a mix of random words.
Be unique.
Use a different passphrase for each important account (like email or banking). Reusing passphrases makes your accounts more vulnerable. This is particularly important for valuable accounts like email, and financial accounts and those that store banking details.
If a scammer has cracked your passphrase, they will attempt to use it on every account they can find that is associated to you. Consider adding a modifier based on the service, like “FacebookI’dlike3xtrachee$e!”
Use a password manager.
If you have many accounts, a password manager, like Keeper, can help you store and manage all your passphrases. You’ll only need to remember one master passphrase, and the great thing is that the password manager can generate strong, unique passwords for each account for you.
Educate yourself on how to keep your money safe from scammers.
Read our series of blog articles about scams, fraud and security.
Alternatively, talk to our team by calling our Contact Centre on 1800 033 139 or visit your local branch.
Important note: This information is of a general nature and is not intended to be relied on by you as advice in any particular matter. You should contact us at Defence Bank to discuss how this information may apply to your circumstances.
