17% of Indian citizens save passwords in an insecure manner, shocking truth revealed in survey

Most often, people save passwords for these accounts by adding the same to their contact lists on their mobile phones, and some save such passwords on Notepad on their phones. It is these ways that Indian citizens are saving passwords which increase the risk of data theft.

A survey by Local Circles got over 48,000 responses across 367 districts. According to the study, 34 percent of the respondents share their passwords with others.

Local Circles said, "In May this year, the Reserve Bank revealed that bank fraud is up 300 percent in the last two years." Close to two-thirds of those questioned answered in a survey that they keep essential passwords to themselves, while the rest, 34 percent, said they share. The survey respondents mentioned that a large part of the password sharing happens with one or more family members. Some others, it also said, shared it with domestic or office staff and friends. Furthermore, it noted that some 53 percent of those questioned said they or a member of their close family had been victimized by financial fraud within the past five years.